China commerce ministry OKs Geely's Volvo buy -Bloomberg

Newswire

HONG KONG, July 29 (Reuters) - The parent of China's Geely Automobile was approved by China's regulator to buy Ford's Volvo unit, Bloomberg reported on Thursday, clearing one of the last remaining hurdles to the high-profile deal. Shares of Geely Automobile jumped 11 percent on Thursday, after Reuters and other media, citing unnamed sources, reported the company's privately-held parent, Zhejiang Geely, would close the high-profile purchase as soon as next week. [ID:N28220371 ] Bloomberg ...

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