AUTO INDUSTRY NEWS

Report: Sergio Marchionne seeks mega merger before retirement

Report: Sergio Marchionne seeks mega merger before retirement image

Text: Martin Aguilar / Photos: Newspress USA | posted April 15, 2015 04:56

Fiat Chrysler CEO eyeing merger to fix the company's oprational weaknesses

Fiat Chrysler CEO Sergio Marchionne is reportedly seeking a mega merger before his retirement in 2019.

In a report by Reuters, Marchionne is eyeing for a big deal in order to help Fiat Chrysler's operational weaknesses as well as cement his legacy in the automotive industry.

With this, the report states that Marchionne is showing “particular interest” in General Motors due to the company's strong position in Asia and the United States.

However, a GM spokesman told Reuters that the company is not interested in Marchionne's idea as they are focused on executing their own strategy.

Last month, Marchionne said that he is also open to tie-up with Ford. According to the Fiat Chrysler CEO, the idea of partnership with Ford is “technically feasible” and added that the company doesn't have any restrictions and the condition for any deal is “saving the highest amount of capital” on new models. In response, Ford said that they are focused to continue working with their respective business plan.

Source: Reuters