U.S., Swedish Investors Considering Volvo Bid

STOCKHOLM (AP) -- Swedish financial daily Dagens Industri on Monday reported that Swedish and American investors were discussing a joint bid for Ford-owned Volvo Cars.

Citing unnamed sources, the paper said the U.S. Crown consortium was in talks with Sweden's Jakob group about a possible takeover. Dagens Industri said Crown's leaders have good relations with Ford, while Jakob is led by former Volvo executives.

Volvo spokeswoman Maria Bohlin declined to comment on the report.

Chinese car maker Geely Automobile has already expressed interest in Volvo, and said last month that it would raise about $334 million in a deal with an affiliate of Goldman Sachs to build up cash for a possible takeover.

Dearborn, Michigan-based Ford said last year that it wants to sell the Volvo unit so that it can focus its efforts on three core brands: Ford, Lincoln and Mercury. Ford acquired Volvo in 1999 for $6.45 billion from Volvo AB.

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