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'No comment' from Renault on reported Volvo interest

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10:17 CEST+02:00
Renault SA refused to comment on a report in Swedish newspaper Dagens Industri that it may buy Volvo Cars from current owners Ford Motor Corp.

Contacted by Thomson Financial, a spokeswoman for the French car marker said: "We have no comment to make on press speculation."

Dagens Industri on Wednesday cited unnamed sources as saying Renault would be interested in buying Volvo Cars from Ford, while AB Volvo, in which Renault owns a 20 percentstake, would potentially become a minority shareholder with 10-20 percent of Volvo Cars.

The Renault spokeswoman reiterated that since January 1982, Renault has had a cooperation agreement with Volvo Cars, under which the Swedish company distributes Renault cars and provides after-sales services in Nordic countries.

As announced in August last year, the partnership is due to come to an end on Dec 31 this year, she explained.

Renault said this morning it is planning to launch its own distribution and service unit in Sweden, Norway, Finland and Denmark.

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