Ford Not in Talks to Sell Volvo Unit: Report
Ford Motor has not entered talks with anyone to sell Volvo, despite reports that BMW was interested in a possible purchase of the Swedish automaker, Dow Jones reported.
However, Ford is weighing strategic options for its assets, the struggling auto manufacturer said.
Swedish newspaper The Goteborgs Posten reported on its website that a source within Ford
said BMW has been studying a possible purchase of Volvo.
The Financial Times also reported last Friday that BMW was in informal talks to buy Volvo.
Ford bought Volvo in 1999 and it is now part of the U.S. company's Premier Automotive Group, including Jaguar and Land Rover.
Ford does not disclose results for its individual brands, but taken together its luxury line-up lost $327 million in 2006.
Merrill Lynch has said Ford could raise over $9 billion by selling the remaining luxury car brands.
Volvo Cars Chief Executive Fredrik Arp told Reuters in March that Ford was committed to keeping the Swedish car maker.