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European Commission OKs Ford/Autonova Acquisition

25 May 2000

    Brussels - The European Commission announced their approval of the complete 
acquisition of Swedish company Autonova by Ford.  Autonova, which assembles 
the Volvo C70 coupe and convertible, is currently jointly owned by Ford's 
subsidiary Volvo Car Corporation and TWR, a British car manufacturer.  The 
EU Commission concluded that the deal will not have an adverse effect on 
the competitive situation in the European market for passenger cars.

    A time line for completion of the deal and additional financial details 
were not revealed.


MJR