Ford put its money-losing Volvo unit up for sale in December last year as it looked to cut costs and raise cash amid industry-wide record low vehicle sales. The firm said in July it was in discussions with a number of parties on the carmaker.
In August, reports in Sweden suggested a Swedish business consortium was keen to return Volvo Cars to Swedish ownership and keep it out of Chinese hands.
An announcement on which suitor Ford had selected to initiate final takeover negotiations with is expected some time over the next month, Dagens Industri reported over the weekend.
“It is necessary if the deal is to be completed before the turn of the year, which Ford has set as a target,” the newspaper cited a source involved in the sales process as saying.