Swedish investors to fight Chinese takeover of Volvo

A hodge-podge consortium of Swedish investors has been hastily assembled to fight the takeover of heralded Swedish car brand Volvo's car division Volvo PV by the state-owned Chinese automaker Geely. Jakob AB, as the consortium has been named, is reputedly the brain child of the engineers' union at Volvo PV who has fought tooth-and-nail to prevent Geely's takeover of the division.

Volvo PV was separated from the rest of the AB Volvo group in 1999 following a takeover by U.S. automaker Ford Motors, but according to Swedish daily Dagens Industri the former mother company is now considering joining up as an investor in Jakob AB, along with another still unnamed large-scale Swedish investor. The investment consortium is also seeking to raise funds by offering owner's shares of Jakob AB to Volvo PV's employees in Sweden and Belgium, as well as to various Volvo dealerships.

Experts still predict that Geely will be the one whose hand is raised in victory, but apparently the Swedes aren't giving up without a fight.

Full story in Danish