Newspaper report suggests consortium is lining up an offer

A consortium led by Swedish businesses plans to bid for Volvo, according to a Swedish newspaper.

Dagens Industri said the group, Konsortium Jakob AB, had intensified efforts recently to raise enough capital to make an offer for Volvo.

Ford put Volvo up for sale in December last year, as it looked to cut costs and raise cash. The firm said in July it was in discussions with a number of parties on the carmaker.

According to Dagens Industri, the engineers' trade union at Volvo has already spoken to the consortium about a possible takeover.

The paper also said that Swedish truck maker Volvo Truck Corp., which sold its car unit to Ford in 1998, may join Konsortium Jakob AB in making a bid - although this has been denied by the truck maker.

"We take an interest in what happens with Volvo cars since we share their brand, but that's where it ends," Volvo Trucks spokesman Marten Wikforss told Reuters. "We don't see ourselves as investors in the car industry."

Other bidders for Volvo are said to include Chinese group Geely.

Twitter - follow autocar.co.ukSee all the latest Volvo reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    27 March 2015
    Lavishly-equipped, rugged-looking Peugeot 508 estate is a pleasant drive, but there are many more recommendable alternatives
  • 308 GT 1.6-litre petrol is priced from £24,095
    First Drive
    27 March 2015
    Peugeot's given the 308 the engine from the 208 GTi 30th and some chassis upgrades; we find out if the changes bring a bit of old-school Peugeot hot-hatch magic to this likeable family hatch.
  • Car review
    26 March 2015
    Does Suzuki's new city runabout have what it takes to succeed?
  • First Drive
    26 March 2015
    Collins Performance has given the Fiesta ST 270bhp and 265lb ft, but has our favourite fast Ford been ruined in the process?
  • First Drive
    26 March 2015
    The Seat Leon X-Perience is the closest thing to an SUV that you can buy with a Seat badge for now, blending estate practicality with off-road ability