FCA: renewed takeover rumour by Hyundai

(CercleFinance.com) - The rumour is back again.


The Fiat Chrysler Automobile (FCA) share was up around 4% at noon on the Milan Stock Exchange, while there are renewed rumours in the press from Asia regarding a takeover bid from the South Korean car maker Hyundai.

Hyundai Motor Group's CEO, Chung Mong-koo is waiting for the Fiat Chrysler Automobile share price to fall a bit before launching a takeover bid on the Italian-American car manufacturer, the Asia Times states in an article.

This paper also mentions that the bid would be launched before FCA's AGM, which is set to be held in May 2019, when Sergio Marchionne will leave as the group's CEO.

The Asia Times adds that the activist investment fund Elliott Management, which has bought one billion US dollars' worth of Hyundai shares, is also involved.


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