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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