for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UPDATE 1-Volvo Cars to review options including IPO, Geely says

(Adds background)

BEIJING, March 31 (Reuters) - China’s Zhejiang Geely Holding Group said on Wednesday its Volvo Cars would explore capital market options including a potential initial public offering (IPO) and stock market listing.

Geely bought Volvo Cars from Ford Motor Co in 2010. Geely’s Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger plan in February.

Geely’s revived consideration of an IPO for Volvo Cars could value the business at around $20 billion, Bloomberg reported on Wednesday citing people familiar with the matter.

A Volvo Cars spokeswoman said the firm would not comment on speculation.

Reporting by Yilei Sun, Helena Soderpalm and Tony Munroe; Editing by Andrew Heavens

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up