MONZA: Fiat Chrysler (FCA) has not received any offer for the company nor is the world’s seventh-largest carmaker working on any “big deal”, Chief Executive Sergio Marchionne said.
Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company’s business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: “No.”
The company’s share price jumped to record highs last month after reports of interest for the group or some of its brands from China.
China’s Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker.
The stock move was also helped by expectations that the company might separate from some of its units.
Marchionne reiterated on Saturday that FCA was working on a plan to “purify” its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. — Reuters
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