The newspaper Dagens Industry reported Thursday that Volvo wanted to pay cash for Renault, since it is still flush with the green stuff after its 1999 sale of its car division to Ford. Renault, however, reportedly wanted a 15-20% stake of Volvo and to become a key shareholder.
The newspaper said unidentified sources at Volvo claim talks have intensified since March 15, when the European Union Commission rejected the planned merger of Volvo and rival Swedish truck maker Scania. The anonymous source said a deal could come within two weeks.
Stark's News Service also reported that a deal is close at hand. Sources confirmed that a deal is close at hand, but Volvo concerns over outstanding liabilities covering warranties of engines produced and sold by RVI's American subsidiary, Mack Trucks, continue to delay a
Renault and Volvo declined to comment, according to published reports.