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Geely Auto says it won't bid for Saab, Volvo

From Reuters| May 08 , 2009 09:14 BJT

China's Geely Automobile Holdings said it has no intention to bid for automakers Volvo or Saab, according to a Hong Kong stock exchange filing on Thursday.

"The company has not submitted, and has no plans to submit, any bids concerning the takeovers of Volvo or Saab as stated in recent press articles," Geely said in its filing.

Geely issued the filing in response to a 13.6 percent surge in its Hong Kong share price on Thursday.

The Chinese automaker has been speculated as a potential bidder for General Motors' Swedish unit Saab as well as for Ford Motors' Volvo cars unit.

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