Wednesday October 28, 11:29 AM
China's Geely 'preferred bidder' in Volvo sale: Ford
WASHINGTON (AFP) - US auto giant Ford said Wednesday that China's largest independent carmaker Geely Automobile (0175.HK - news) is its "preferred bidder" in talks over the sale of Swedish unit Volvo (Stockholm: VOLV-B.ST - news) .
"Ford's objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties," said Ford's chief financial officer Lewis Booth in a statement.
"Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise," Booth said.
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