FCA: denies being approached by China's Great Wall Motors.
(CercleFinance.com) - Fiat Chrysler Automobiles said on Monday that it has not been contacted by China's Great Wall Motors about any potential merger following press reports that talks were underway about a partial or complete buy-out of the group.
"In response to market rumors regarding a potential interest of Great Wall Motors in the Jeep brand, Fiat Chrysler Automobiles confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business," FCA said.
The carmaker said that it is fully committed to its 2014-18 plan, having achieved each one of its targets so far, with only six quarters left until its completion.
This morning Automotive News cited a spokesman at Great Wall Motors, who confirmed the company's interest for Fiat Chrysler, even though no formal offer has yet been made.
The spokesman particularly mentioned an acquisition of Jeep, which would facilitate Great Wall Motors' aim to become the world leader in SUVs.
The Fiat Chrysler share is currently up 4% in afternoon trading in Milan.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
"In response to market rumors regarding a potential interest of Great Wall Motors in the Jeep brand, Fiat Chrysler Automobiles confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business," FCA said.
The carmaker said that it is fully committed to its 2014-18 plan, having achieved each one of its targets so far, with only six quarters left until its completion.
This morning Automotive News cited a spokesman at Great Wall Motors, who confirmed the company's interest for Fiat Chrysler, even though no formal offer has yet been made.
The spokesman particularly mentioned an acquisition of Jeep, which would facilitate Great Wall Motors' aim to become the world leader in SUVs.
The Fiat Chrysler share is currently up 4% in afternoon trading in Milan.
Copyright (c) 2017 CercleFinance.com. All rights reserved.