HONG KONG: China's Geely Automobile Holdings has withdrawn its bid to acquire a controlling stake in Malaysian automaker Proton, Geely's president, An Conghui has told the South China Morning Post.
Geely, the owner of the Swedish Volvo brand, earlier on Wednesday reported better-than-expected earnings for 2016, as net profit surged by 126% to 5.1 billion yuan (RM3.3bil).
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