Ford, Geely miss New Year deal date

Ford Motor Co and Zhejiang Geely Holding Group Co are unlikely to sign a deal on the sale of the US automaker's Volvo unit by the start of the Lunar New Year on Feb 14, said three people familiar with the negotiations.

Negotiations have snagged on financing and details in the signing documents, said one of the people, who asked not to be identified disclosing private talks.

Ford Chief Financial Officer Lewis Booth did not come to London for a signing last weekend, as the parties hoped, and then was tied up preparing for Ford's board of directors meeting yesterday, said another one of the people.