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GOTHENBURG, Sweden, Aug. 15 (UPI) -- A primarily Swedish consortium eyeing a possible bid to buy Volvo Cars from Ford Motors has the support of a Volvo workers union, a business daily reports.
The Local reported Saturday that the financial newspaper Dagens Industri said Volvo Cars' engineering trade union supports Konsortium Jakob AB in the consortium's attempt to outmaneuver a Chinese group for ownership of Volvo Cars.
A consortium including the Chinese car manufacturer Geely has been tabbed the expected winner in the bidding war, despite the state-owned manufacturer's denial that it has any plans to purchase the Swedish automaker.
Ford Motors is expected to remain a minority owner in Volvo Cars no matter who purchases it. Volvo Cars is expected to be bought for about $2 billion.
The Local said under the possible bid from Konsortium Jabob AB, Volvo employees in Sweden and Belgium, along with Volvo dealers, may be allowed to use their salaries to purchase a stake in the company.
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