Geely only concrete Volvo Cars bidder so far -report

Newswire

STOCKHOLM, Aug 29 (Reuters) - China's Geely Automotive has submitted the only concrete bid so far for Ford Motor-owned carmaker Volvo Car Corporation, a business daily reported on Saturday, citing an undisclosed source. The U.S. carmaker put money-losing Volvo Cars up for sale in December last year as it looked to cut costs and raise cash in the face of plunging industry-wide auto sales. The firm said in July it was in discussions with a number of parties on the car maker. An ...

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