Ford agrees Volvo sale to China's Geely: report
US auto giant Ford and Zhejiang Geely Holding have struck a deal on Ford's sale of Swedish brand Volvo to the Chinese company, Swedish television reported on Wednesday, citing a union leader.
"Now it is clear. Volvo cars is sold to China's Geely," said a report on the website of local Swedish television, quoting union leader Miroslav Milurevic, the head of Volvo's metal workers in the town of Olofstroem.
Volvo's spokesman Olle Axelsson denied the report to Swedish newswire TT but said "a positive step" had been taken.
Axelsson would not give more details and said additional information would come before 1100 GMT.
Profile: China's Geely
Copyright 2009 AFP Global Edition
