Geely capital raising move may fund Volvo buyout bid
Geely Automotive, the Chinese carmaker whose parent is eyeing Ford's Volvo unit, is set to raise capital through a bond issue in a move that may provide funding for a Volvo bid.
Analysts, however, said the bonds could also be used for Geely to expand its car making capacity rather than to launch an immediate bid for Ford's $2 billion plus Swedish car unit.
Geely said last week its parent was considering a bid for Volvo with a local government-backed investment firm.
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