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Volvo future uncertain

Published måndag 16 juli 2007 kl 14.49
Sell-off speculation has increased in recent weeks

US car giant Ford has denied it is intending to sell off Swedish car unit Volvo, despite numerous media reports to the contrary.

According to a report in the Wall Street Journal, Ford is still considering a possible sale. Various reports over the weekend claim that Ford agreed to a sale in a board meeting held in the last two weeks.

The company still maintains it has not made a decision yet on the possible sale, and a spokesman said no potential buyers have been approached.

In June, Ford said it was ”actively” studying ”strategic options for all operations,” that could include the sale of its British nameplates Jaguar and Land Rover, but the company specifically excluded Volvo.

Ford also denied reports that they were in talks to sell the Swedish manufacturer to Germany’s BMW.

Gothenburg-based Volvo was sold to Ford for some $US 6 billion in 1998.

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