Sources in China suggest that the pending deal for the divestment by Ford of its Volvo Cars unit to Geely could be close to completion.
Chinese Vice President Xi Jinping is due in Sweden this weekend and that could coincide with an announcement. High ranking Xi is due to arrive in Stockholm on Saturday for a four-day visit, state Xinhua news agency reported.
Go deeper with GlobalData
The visit comes after the chairman of China’s Zhejiang Geely Holding Group, Li Shufu, told the Wall Street Journal last week that he expected to complete the deal to acquire Volvo by the end of the month as planned.
Some reports in China say that the deal will be announced on March 28 in Stockholm with a press conference held in Beijing two days later.
