Ford Denies Plan To Sell Volvo - Update
(RTTNews) - Tuesday, Dearborn, Michigan-based automaker Ford Motor Co. (F | charts | news | PowerRating) said it was not in discussions to sell its Swedish unit Volvo to BMW or any other company. The company denied Swedish newspaper Goteborgs Posten reports, that said the company was aiming a sale of its Volvo brand to German carmaker BMW. The U.S. automaker in a statement said, "Ford Motor Company is not in discussions with BMW or any other company regarding an interest in the Volvo Car Corporation,"
While analysts see no urgent need for the automaker to rush into a sale, many feel that the company is burning cash and can remain open to such an option if they can get a good price for Volvo.
Tuesday, Wall Street Journal said though rumor of a sale has been making the rounds a sell-off might make some sense -- at first glance.
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