Geely, Ford Talks on Volvo Faltering: Report

Chinese automaker Geely's effort to buy Volvo from Ford could fall apart within days as the companies argue over intellectual property rights, a report says.

Author:
TheStreet Staff
Publish date:
Oct 21, 2009 3:05 AM EDT

Chinese automaker Geely's effort to buy Volvo from Ford could fall apart within days as the companies argue over intellectual property rights, a report says.

LONDON (

TheStreet

) --

Geely's

10-month effort to buy

Volvo

from

Ford

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(F) - Get Ford Motor Company Report

could fall apart within days as the companies struggle to agree on intellectual property rights,

Bloomberg

reports, citing people familiar with the talks.

Chinese automaker Geely and Ford officials are meeting in London this week to try to resolve Ford's concerns about sharing technology and future product plans, the news agency reports. Ford is reportedly seeking assurances that Geely will keep new-model blueprints secret.

Without an agreement, Ford could opt to keep Volvo, the Swedish unit that is seeing losses narrow and sales improve.

Ford put Volvo up for sale in December. Geely is offering about $2 billion, less than a third what Ford paid a decade ago,

Bloomberg

reports, citing people familiar with the talks.