Getting your player ready...
DETROIT — Ford Motor Co. has picked a consortium led by China’s Geely Group as the preferred bidder to buy its Swedish Volvo Cars unit, the automaker said Wednesday.
Ford said the selection signals that it is conducting “more detailed and focused negotiations” with Zhejiang Geely Group Holding Co. Ltd. about the sale.
The announcement means that both sides have reached a fundamental agreement for the storied brand to change hands, but details such as price still must be worked out, according to a person briefed on the negotiations.
