A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact'
unless so noted. Please visit our Hot News page for news. If you have a rumor, or can supply
more information about one listed here,
e-mail us with as
much supporting information as possible and we may post it. User Agreement and Disclaimer.
Newer rumors supersede older ones of the same topic. Go to our
discuss any rumor.
Ford may get $2B for Volvo Ford Motor Co. may get $1-$2 billion for its Volvo Cars unit, less than a third of what it paid 10 years ago, as it conducts sale talks with more than three bidders, according to an unnamed source interviewed by Bloomberg.
The last piece of Ford's failed strategy to boost profit with European luxury brands may take six months to complete, said the unidentified person, who preferred to remain private. The individual wouldn't name the potential buyers, reported Bloomberg.
With a $14.7 billion loss last year, Ford is trying to raise cash and buttress its balance sheet to remain the only major U.S. automaker not receiving federal aid. General Motors Corp. and Chrysler LLC are operating on $17.4 billion in low-cost U.S. loans.
Ford confirmed talks with multiple "interested parties" in a statement Mar. 25 that didn't cite names or a specific number of prospective buyers for Gothenburg, Sweden-based Volvo. The second-largest U.S. automaker, is "pleased with the numbers and quality" of possible bidders, and "is now talking in more detail," according to the statement.
Copyright 1999-2013 | AutoRacing1 is an
independent internet online publication and is not affiliated with, sponsored by, or endorsed
by IndyCar, NASCAR, FIA, Sprint, or any other series sponsor.
This material may not be published, broadcast, or redistributed without