Posted on Oct 22, 2009 | 18:10

Geely Automobile Holdings' (0175.HK) move to purchase the Volvo brand from Ford Motor Company (NYSE:F) may fail within the next several days, due to a conflict over technology sharing and rights to future products, China Daily reported October 22 quoting two sources familiar with the talks. Sources say Ford is also in talks with another potential acquirer, named the Crown group, said the report.

Geely is offering roughly $2 billion for the Volvo business, less than a third of what Ford spent to purchase the business one decade ago, said the report quoting negotiation insiders. Officials from Geely and Ford are meeting this week in London as Volvo sales improve and losses narrow, the report said.

Geely spokesperson Zhang Xiaodong refused to comment.