Geely Gets Approval from EU to Buy Volvo Cars

Submitted by BOCVIP on Wed, 07/07/2010 - 05:23

European Union regulators approved on Tuesday the acquisition of Ford Motor's Volvo car unit by Chinese carmaker Geely Automobile Holdings and state-owned investment group Daqing, XInhua reported.

The deal would not impede competition in Europe, said the European Commission in a statement.