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Volvo up on Ford merger talk
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December 23, 1998: 7:39 a.m. ET
Investors speculate on deal between Ford and Volvo
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LONDON (CNNfn) - Merger speculation has taken the wheel in Europe. Persistent rumors surrounding a possible merger between Ford and Volvo are driving the Swedish group's shares higher.
Neither party would comment on the stories, but investors shoved Volvo shares up to 15 percent higher in Stockholm.
Analysts pooh-poohed the prospect of a full merger, but said some form of cooperation is a real possibility.
France's Renault (PRNO) agreed to a merger with Volvo in the early 1990s, but the deal fell apart when Swedish shareholders objected to the company losing its national identity.
In Stockholm Volvo shares were up 10 percent at midday, off earlier highs, at 193 crowns.
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