Ford eyes Volvo sale; BMW interested
STOCKHOLM (Reuters) -- Loss-making Ford Motor Co. is planning to sell
Swedish car maker Volvo, and German carmaker BMW could be a possible
buyer, a Swedish newspaper said on Monday.
The Goteborgs Posten daily reported on its Web site that a source within
Ford (Charts, Fortune 500) said BMW has been studying a possible
purchase of Volvo.
The Financial Times also reported last Friday BMW was in informal talks
to buy Volvo.
"We cannot comment on speculation, this is a question for our owner,"
said a spokeswoman for Volvo cars.
Ford bought Volvo in 1999 and it is now part of the U.S. company's
Premier Automotive Group, including Jaguar and Land Rover.
Ford does not disclose results for its individual brands, but taken
together its luxury line-up lost $327 million in 2006.
Merrill Lynch has said Ford could raise over $9 billion by selling its
remaining luxury car brands.
Volvo Cars Chief Executive Fredrik Arp told Reuters in March that Ford
was committed to keeping the Swedish car maker.