Date
14 December 2017
Fiat Chrysler CEO Sergio Marchionne says a merger with GM will be in the interests of both the auto giants. Photo: Reuters
Fiat Chrysler CEO Sergio Marchionne says a merger with GM will be in the interests of both the auto giants. Photo: Reuters

Fiat Chrysler says merger with GM a high priority

Fiat Chrysler Automobiles (FCA) will continue to pursue a merger with General Motors, the former’s CEO said on Sunday, stressing that a deal between the two auto giants will help both the firms.

A a tie-up with GM remains a “high priority” for FCA, Sergio Marchionne said, Reuters reported.

GM’s board rebuffed a merger proposal from FCA earlier this year.

But that has not stopped Marchionne from wooing his bigger competitor as he seeks to reduce the number of players in the industry and share the costs of building greener and more intelligent cars, the report noted.

Marchionne didn’t reveal the next steps FCA might take or their timing, but said a merger with GM would “be the best possible strategic alternative for us and for them.”

“GM does remain the ideal partner for us and we represent a not easily replaceable alternative for them,” he was quoted as saying on the sidelines of the Formula One Italian Grand Prix in Monza, northern Italy.

Marchionne declined to comment on whether FCA would pursue a hostile bid for GM.

“I have zero comment on that issue. I’m not a good forecaster of the future when it comes to that,” he said.

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