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Geely to buy Volvo CC
Geely wants to buy Volvo CC for SEK 13 billion, but the deal cannot be sealed until all permits from the Chinese government are finalized, something that won't happen until fall 2010 at the earliest.
Ford and Geely are now in agreement and Geely promises that Volvo CC will retain an independent position within the Geely group. Critics in China maintain that Geely does not have the financial position to handle the financing that Volvo will need to implement its plans for development.
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