June 11, 2009 / 4:20 AM / 10 years ago

China's BAIC interested in Volvo- WSJ

June 11 (Reuters) - Chinese automaker Beijing Automotive Industry Holding Corp (BAIC) is interested in acquiring Ford Motor Co’s (F.N) Volvo car unit, the Wall Street Journal said, citing three people familiar with the situation.

A team of BAIC executives is likely visit Volvo’s Gothenburg, Sweden headquarters as early as Thursday to meet with its executives and tour its research-and-development and manufacturing facilities, the people told the paper.

One of the people told the paper that BAIC’s interest was “preliminary” and “nascent.”

BAIC and Ford could not be immediately reached for comment by Reuters. China’s Geely Automobile Holdings (0175.HK), which has also been speculated as a potential bidder for Volvo said in a Hong Kong stock exchange filing last month that it has no intention to submit a takeover offer for either Volvo or General Motor’s GMGMQ.PK Swedish unit Saab. [ID:nHKG309232] (Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)

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