Fiat Chrysler CEO says pursuing merger with GM a 'high priority'

[Eugene]

Source: Reuters

Deals | Sun Sep 6, 2015 12:20pm EDT

Fiat Chrysler CEO says pursuing merger with GM a 'high priority'

MONZA, ITALY

Fiat Chrysler Automobiles (FCA) (FCHA.MI) boss Sergio Marchionne said on Sunday that seeking a tie-up with General Motors (GM.N) was a "high priority" and such a deal would also be the best strategic option for its U.S. rival.

GM's board rebuffed a merger proposal from the Italian-American carmaker earlier this year. 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 prohibitive costs of building greener and more intelligent cars.

"That discussion remains a high priority for FCA," he told journalists on the sidelines of the Formula One Italian Grand Prix in Monza, northern Italy.

He did not want to discuss 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. General Motors does remain the ideal partner for us and we represent a not easily replaceable alternative for them."

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

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Read more: http://www.reuters.com/article/2015/09/06/us-fiatchrysler-m-a-idUSKCN0R60OK20150906

[cantbeserious]

1. An Italian Chevy - Anyone For Pizza With Their Apple Pie - Zoom, Zoom

eom

[appal_jack]

2. I don't understanding what he is thinking.

Fiat Chrysler has a good dealership network in the US, but so does GM. GM does not need Fiat Chrysler.

Fiat Chrysler should be looking toward India's Tata, Japan's Mitsubishi, or some other company without a dealership in every US town already.

-app