Ford Motor Co. (F) is set to announce progress in its effort to sell Volvo to automaker Geely, the Wall Street Journal reported, citing people familiar with the matter.
The report said that Ford is expected to announce that major hurdles have been cleared, enabling the auto maker to complete the sale to the Chinese company by early 2010.
The announcement could come as soon as December 23, 2009 in the form of a letter sent by Volvo chief executive Stephen Odell to employees of the Swedish brand wholly owned by Ford, report added.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.