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Ford Says It May Sell Volvo, Its Last European Brand -- bloomberg.com
Dec. 1 (Bloomberg) -- Ford Motor Co. said it may sell its Volvo unit, the company’s sole remaining European brand, a day before the automaker is scheduled to present a survival plan to U.S. lawmakers.
The review of options for Volvo probably will take several months, Dearborn, Michigan-based Ford said today in a statement. Shedding the Swedish unit would complete the unwinding a two- decade strategy of diversifying by buying European luxury brands. Volvo, acquired in 1999 for $6.4 billion, was retained after a similar evaluation last year.
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The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. —Bertrand Russell
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