According to the Chinese auto newshounds over at Gasgoo, Geely has denied it has any interest in buying Volvo or Saab. The Swedish patients, being shopped by Ford Motor Company and General Motors, respectively, are still up for sale, however.

As the story goes, Geely chairman Li Shufu has been cited as remarking that too much money is being asked for the two marques. According to a press release detailed by Gasgoo, the automaker has stated that it "has not submitted, and has no plans to submit, any bids concerning the takeovers of 'Volvo' or 'Saab' as stated in recent press articles."

In related news, someone might want to tell the bookies at a certain UK gambling website, Ladbrokes, that they may want to adjust their odds. According to Autocar, the sports betting site that allows customers to wager on everything from darts to Italian volleyball even has a pool going for who will win the right to purchase Saab. Thanks to everyone for the tips.

[Sources: Gasgoo; Autocar | Image: Joe Raedle/Getty]