A new consortium is ready to bid for Volvo, according to reports.
Chinese car maker Geely has already been named as Ford's preferred bidder for Volvo, while another consortium - Crown, which is led by former Ford executives - has signalled its intent to make a bid.
The new bidder is called Konsortium Jakob AB. It was formed following an approach from the engineers' trade union at Volvo.
"We have told Ford that we are ready to submit a cash bid, that we have investors backing this," Peder Fast, Konsortium Jakob AB's CEO, told the Reuters news agency.
Fast said the consortium was now awaiting a response from Ford to see whether it was worth pursuing its interest with a bid.
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Re: New consortium readies Volvo bid
I hope this is a genuine bid, I am sure Ford would prefer to work with a company associated and with ties to Volvo as opposed to a Chinese company who are probably only interested in the technology. With the right team at the helm Volvo could really make an impact in the market, if it starts getting back to its core values. after a short search it appears this is old news rehashed, follow link (dated 17th August 09) [url]http://www.autoevolution.com/news/swedish-konsortium-jakob-planning-volv...