7/31/2009 - Ford (NYSE:F) is stalling the sale of its Volvo unit in hopes of stoking a bidding war, according to a Wall Street Journal report that cites a person close to the company. The person said that Ford will wait until General Motors has wrapped up the sale of its Opel unit, at which point it would invite the loser to bid on Volvo. "Expect nothing to happen for another three to four weeks," the person said. They added that there are presently three bidders for the Swedish brand, including Beijing Automotive Industry Holding Co, a group led by China's Geely Holding Group Co, and a Europe-based group of investors that the person would not identify. Meanwhile, a group led by Canada's Magna International (NYSE:MGA) is competing with private-equity firm RHJ International for a majority stake in Opel. The person said that Ford is "looking for the best buyer and most socially acceptable buyer possible" for Volvo, which has seen sales fall 36% in the first six months of the year when compared to 2008, according to Autodata Corp data.

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