News Snapshot:
The Chinese language proprietor of Volvo Vehicles has bowed to stress from Swedish buyers to loosen its grip on the group’s voting rights simply days earlier than the premium carmaker is about go public in stock market listing that might worth it at as a lot as $23bn. Institutional buyers in Stockholm had complained that Zhejiang Geely, the Chinese language carmaker that has circled Volvo, would promote about 20 per cent of shares within the group however would retain voting rights of about 97 per cent. Volvo’s turnround is among the greatest successes of Chinese language trade overseas, however amid...
