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Volvo Postpones Merger with Geely Auto Amid Pandemic

The Coronavirus pandemic has torpedoed yet another effort to list Swedish auto maker Volvo as a publicly traded company.

Due to be merged this year with Geely Auto, then listed on Shanghai’s new technology index, the Coronavirus’s global pandemic has crushed new car sales around the world, forcing a temporary halt to the merger.

Geely Auto has been trying to join Shanghai’s new technology index, and its merger with Volvo has been shelved temporarily to lubricate the regulatory approval process.

It’s not the first disappointment Volvo has had trying to become a publicly listed company, after it axed its own plans to independently list two years ago.

Read the source article at forbes.com

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