Ford denies talking to BMW or anyone about Volvo

Following media reports today, Ford spokesman denied that it is in talks with BMW or any other company about selling Volvo. Earlier today a report surfaced for the second time this month that BMW is seriously looking into buying Volvo.

“Ford Motor Company is not in discussions with BMW or any other company regarding an interest in the Volvo Car Corporation,” the statement released on Tuesday said.

Ford purchased the Volvo Group in January of 1998 for $6.45 billion. Merrill Lynch analysts have said that Ford could possibly raise over $9 billion by selling its remaining luxury car brands.

Ford had a huge $12.5 billion loss in 2006, which forced the company to sell its Aston Martin Group for $925 million. Ford has said before that it has not intentions of selling Volvo, Mazda or Jaguar as of yet.

Source: Reuters

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