LONDON/DETROIT- A U.S.-led group that includes former Ford director Michael Dingman is in talks to acquire the automaker's money-losing Volvo brand, a source familiar with the matter told Reuters on Monday.

The group, called the Crown consortium, has been in talks with Ford over Volvo for some time, said the source, who asked not to be named because the discussions are private.

The discussions raise a potential rival bid for Volvo to that of China's Geely Automotive (0175.HK), which confirmed in September an interest in the Swedish brand.

Ford, the only large U.S. automaker not to restructure under a government-supported bankruptcy this year, in December said it was considering selling Volvo. The automaker has been divesting brands to focus on Ford, Mercury and Lincoln and conserving cash to support a turnaround.

A Ford spokesman said the automaker was in discussions with parties interested in acquiring Volvo. He declined to identify the parties or to comment on the potential timing of any sale.