China approves Geely's plan to buy Volvo -Xinhua


SHANGHAI, July 29 (Reuters) - China's Ministry of Commerce has approved a plan by the parent of Geely Automobile to acquire Ford's Volvo unit, the official Xinhua news agency said on Thursday. The ministry approved the $1.8 billion deal on Monday, an official with the ministry's publicity department was quoted as saying. The acquisition is expected to be completed in the third quarter this year, Xinhua also quoted a Geely spokesman as saying, without identifying the executive who was ...

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