Ford still open to talks on Volvo Cars sale: report

STOCKHOLM Tue Jan 12, 2010 7:19am EST

The XC60 Volvo model is displayed during the first media day of the 79th Geneva Car Show at the Palexpo in Geneva March 3, 2009. REUTERS/Denis Balibouse

The XC60 Volvo model is displayed during the first media day of the 79th Geneva Car Show at the Palexpo in Geneva March 3, 2009.

Credit: Reuters/Denis Balibouse

STOCKHOLM (Reuters) - Ford (F.N) remains opens to talks with potential bidders for its Volvo cars unit despite a commercial agreement on a sale with China's Zhejiang Geely, a Swedish business daily reported on Tuesday.

Ford and Geely said in December they had reached a commercial agreement on the deal, which they expected to sign during the first quarter and complete during the second.

But Dagens Industri quoted Volvo chief executive Stephen Odell as saying the door was open to further talks on a sale after a conversation on Monday with Ford leadership.

"I know that Ford is open to talking with others," he told the paper. "Those who say that the door is closed can go to Ford and talk with them whenever they want." In an interview on Monday at the Detroit auto show, Odell told Reuters talks between the U.S. carmaker and Geely were going forward as planned, adding 2010 would be tough for Volvo with projected sales of 350,000 units.

(Editing by Dan Lalor)