BEIJING -- China's Zhejiang Geely Holding Group has won approval to buy a Danish financial technology company in a move to strengthen the automaker's ability to provide connected cars.
Geely, which owns Volvo Car, is acquiring a 52% stake in Saxo Bank from its founders and institutional investors, the parties announced on Friday. The purchase price was undisclosed, but the transaction values Saxo at about 1.33 billion euros ($1.55 billion).
