Rumoured Volvo deal halts trading for Chinese automaker
AFP/The Local · 27 Mar 2009, 08:01
Published: 27 Mar 2009 08:01 GMT+01:00
Geely Automobile Holdings Limited said its shares were suspended Friday morning in a one line statement to the Hong Kong Stock Exchange that provided no further details.
The suspension comes a day after The Wall Street Journal reported Geely had "preliminary discussions" with Ford about buying its money-losing Swedish unit Volvo, citing "two individuals close to Geely and a person close to Ford".
Geely spokesman Zhang Xiaodong told AFP on Thursday his company had not expressed interest in Volvo and that Geely was the subject of a persistent rumour.