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Trump’s trade war has forced one of Europe’s most famous automakers to delay a $30 billion IPO

September 10, 2018

Volvo, the Swedish automaker, has reportedly had its initial public offering (IPO) plans delayed by its parent company as a result of uncertainty surrounding US President Donald Trump’s trade war.

The Financial Times reports on Monday that Geely, the Chinese auto giant which owns Volvo, has paused plans for an IPO that valued Volvo at $30 billion because Geely is worried US President Donald Trump’s trade war could hurt its valuation.

“Conditions right now are not optimal to give certain upside for the investors,” Hakan Samuelsson, Volvo’s chief executive, told the FT. He added that the listing requires “stable market conditions.”

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