Chinese car maker has agreed to buy a 49.9 per cent stake in Malaysian manufacturer Proton. The deal involves Proton selling off its entire stake in British car manufacturer Lotus to Geely.
Geely, also controls Sweden's Volvo Car Group, buying Lotus is expected to increase Geely's presence in SE Asia. Malaysia has been trying to resuscitate its formerly state-owned car maker for years.
Proton was privatised in 2012 but its market share dwindled to around 12 per cent last year. The companies plan to sign a final agreement in July.
Will Geely leave Lotus to keep doing there own thing?
Or will they be tempted to meddle resulting in another "SAAB" story?
All comments welcome.
Congratulations @jeff001! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPIf you want to support the SteemitBoard project, your upvote for this notification is welcome!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit