Volvo Cars drops IPO plans on trade tensions

Volvo Cars drops IPO plans on trade tensions

Paris : Volvo Cars and its Chinese owner Geely have postponed plans to float shares in the Swedish carmaker, blaming trade tensions and a downturn in automotive stocks. But while Volvo’s plans for a Stockholm listing were delayed indefinitely, Britain’s Aston Martin vowed to push ahead with its own initial public offering.

“We’ve come to the conclusion that the timing is not optimal for an IPO right now,” Volvo Chief Executive Hakan Samuelsson told Reuters. Volvo and its Chinese parent had been discussing an IPO to value the carmaker at between $16 billion and $30 billion, sources previously said. 




Tokyo airport tests driverless bus

Tokyo airport tests driverless bus

Visitors pouring into Japan’s Haneda airport for the Tokyo Olympics next year may find themselves ferried to and from planes on driverless buses, currently being tested at the major hub. Six Japanese firms, including national car

EU split over copyright overhaul

EU split over copyright overhaul

Divisions between EU countries could delay or derail plans to overhaul copyright law, an ambition that has set up a battle pitting media firms against internet giants like Facebook and Google. The European Parliament, the European Coun


BIC set to host Neon Run

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Alaina, Hopkins end engagement

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Misbah-ul-Haq to visit school

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Tokyo airport tests driverless bus

Tokyo airport tests driverless bus

Visitors pouring into Japan’s Haneda airport for the Tokyo Olympics next year may find themselves ferried to and from planes on driverless buses, currently being tested at the major hub. Six Japanese firms, including national car

EU split over copyright overhaul

EU split over copyright overhaul

Divisions between EU countries could delay or derail plans to overhaul copyright law, an ambition that has set up a battle pitting media firms against internet giants like Facebook and Google. The European Parliament, the European Coun