In May we first reported that BMW was evaluating a possible takeover of Volvo and had even gone so far as to request copies of the Swede’s financial statements in preparation of a rumored bid. Since then, officials from both Volvo and parent company Ford have denied rumors of the sale, including Ford Americas president Mark Fields, who said that Volvo was “too integrated” with the rest of the Ford empire.

The latest twist is that BMW personnel have met with staff from Volvo’s finance department in Gothenburg as revealed to TeknikensVarld magazine by an inside source. The purpose of the meeting is said to have revolved around the release of financial information to BMW so that it could make an accurate offer for the carmaker.

Despite denials from Ford officials that Volvo is not for sale, Blue Oval CEO Alan Mulally has previously mentioned that “all possible avenues” would be considered to turn around its dismal financial state.