Konsortium Jakob AB preparing to make an offer for Volvo
By Andrew C., 26 Aug, 2010. 0 Comments
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Joining the bid to acquire Volvo is a consortium led by Swedish businesses, Swedish newspaper Dagens Industri reports. The group known as the Konsortium Jakob AB had been reported to intensify its efforts to raise sufficient capital to make an offer for Volvo. Last December, Volvo was put up for sale by Ford, citing that it was meaning to raise cash and cut costs. Last July, Ford said that it had began discussions with a number of parties, including Chinese group Geely. Konsortium Jakob seems earnest; it had already met Volvo's engineers trade union to discuss the possible takeover. There have also been reports that Swedish truck maker Volvo Truck Corp., which sold its car unit to Ford in 1998, may join Konsortium Jakob in the bid. Volvo Trucks spokesman Marten Wikforss has denied this report by stating, " We take an interest in what happens with Volvo cars since we share their brand, but that's where it ends." Wikforss said that Volvo Trucks doesn´t see itself as investors in the car industry.
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