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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China's Geely expects Volvo deal by month's end AP - Wednesday, March 24 Send IM Story Print SHANGHAI – Zhejiang Geely Holding Group expects to wrap up talks on buying Ford Motor Co.'s Volvo car unit by the end of this month, a spokesman for the Chinese automaker said Tuesday. "I cannot tell the exact date, but so far everything goes smoothly, and I think the contract will be signed in March," said Ren Daqing, a spokesman for Geely in Beijing. Ren would not comment on reports that the deal will likely be announced during a visit by Chinese vice president Xi Jinping to Sweden. Xi is due to arrive in Sweden on Saturday after visits to Russia, Finland and Belarus. Ford, which purchased the Swedish car maker in 1999 for $6.45 million, has said it expects the deal to be finished by the end of the first quarter. The Dearborn, Michigan automaker has been trying to sell Volvo since late 2008 to focus its resources on managing its core Ford, Lincoln and Mercury brands. One key hurdle for the sale has been organizing financing and government approvals, Ford has said. The two sides have been negotiating details for sharing technology, engineering and parts. Geely, an independent automaker that has struggled to upgrade its image in overseas markets, has long coveted a stronger foothold in Europe. But some analysts accuse the company of overreaching in its quest for expansion. "Geely has promised to keep the Volvo factory and business teams in Sweden after the takeover, so it will face funding problems," said Zhang Xin, an analyst at Guotai Junan Securities in Beijing. Having used the funding it raised to buy Volvo, Zhang said Geely may be short of funds to operate the company. Recommend Send IM Story Print Related Articles Entergy wants to keep nuclear option in Louisiana Reuters - 1 hour 3 minutes ago Armenian leader outlines compromise on rebel region Reuters - 1 hour 4 minutes ago US STOCKS-Wall St edges up after home sales data Reuters - 1 hour 6 minutes ago WRAPUP 1-Swiss watch execs caution on recovery Reuters - 1 hour 10 minutes ago Germany sets tough terms for EU help for Greece Reuters - 1 hour 22 minutes ago News Search Top Stories Trade protection given to cool water shark Germany digs in against Greek rescue Last Supper is growing by Biblical proportions Sharks get hammered at UN wildlife trade meet Auschwitz attic trove names 'Angel of Death': historian More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended With health vote, Obama claims a new place in history Auschwitz attic trove names 'Angel of Death': historian Gene study highlights cancer risk for "never smokers" Germany digs in against Greek rescue Last Supper is growing by Biblical proportions More Most Viewed » Experts confirm asteroid wiped out the dinosaurs 'Britain's Fritzl' raped daughters for over 25yrs Researchers back cancer-fighting properties of papaya Hollywood stars help prevent suicide after Twitter alert Prince Philip in strip club gaffe More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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