Geely eyes Volvo Cars public float

Zhejiang Geely Holding Group said it is mulling an initial public offering for Volvo Cars, a Swedish carmaker it bought from Ford in 2010.

"We are looking at the possibilities; we haven't made a final decision on how to proceed as of yet," a Geely spokesperson said on Friday.

He made the comment in response to media reports that Geely has selected investment banks including Citigroup Inc to advise on an IPO this year.