Fleet News

Ford no comment on 'AA pull-out' report

FORD of Britain is not commenting on remarks made in the US by the manufacturer's chief executive that it had ruled itself out of the bidding for the AA. Jacques Nasser, Ford's global chief, was quoted in the Financial Times as saying that the bidding had gone too high. It is understood the market price for the AA could be £1.5billion.

Nasser was quoted as saying: 'We were interested but there were other interested parties, too. We believe that the bidding levels have gone above those which would interest us.'

A Ford spokesman here said the manufacturer could make no comment on Nasser's remarks, which came as speculation continues that both the AA and Green Flag could be sold following the announcement of the RAC's proposed £437million acquisition by Lex Service.

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