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

  • Citroën C4 Grand Picasso
    First Drive
    26 August 2016
    The Citroën Grand C4 Picasso gets tweaked styling, improved tech and new personalisation options to keep it ahead of rivals
  • Car review
    26 August 2016
    Wolfsburg celebrates the GTI’s 40th with its most extreme version yet
  • Kia Optima Sportwagon
    First Drive
    25 August 2016
    New Kia estate looks the part, has good space and handles tidily, but its engine's flexibility and refinement let it down
  •  Kia Optima PHEV
    First Drive
    25 August 2016
    Plug-in hybrid Optima is a practical, tax-efficient PHEV that undercuts rivals and fulfils its main remit well, but keen drivers need not apply
  • Lamborghini Huracán LP610-4 Spyder
    First Drive
    24 August 2016
    Awful driving position aside, drop-top Huracán handles UK roads well. It's more dynamically rounded than its rangemates, but lacks rivals' handling bite