REPORT: American-led consortium to bid against Geely for Volvo
The Beijing Automotive Industry Holding Co. bid for Opel was killed because of such concerns. Magna's bid has faced similar worries because much of the financing is coming from Russia.
The lead bidder for Ford's Volvo unit is currently Chinese automaker Geely, but Ford is apparently having second thoughts because it doesn't want to share too much of its technology with the potential buyer. A second potential purchaser has entered the picture, a U.S.-based group with backing from several private equity funds. The Crown consortium has reportedly offered less up-front money than Geely but made similar investment commitments to the Swedish brand. If things don't work out with Geely, Ford could turn to the American group, but no one is talking publicly right now.
[Source: Financial Times]
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