Fiat Chrysler has issued a statement to the Italian stock exchange following a 16 per cent rise in the company’s share price over the last five days amid reports over the company’s future.
On Monday, Great Wall Motor, the Chinese SUV maker, said it was interested in buying the whole of FCA, sparking speculation in the media about the company’s future.
On Friday FCA said:
At the request of the Italian stock exchange regulator (Commissione Nazionale per la Societa e la Borsa – CONSOB) Fiat Chrysler Automobiles N.V. confirmed today that it has no further information to report in response to market rumors beyond its statement already issued on August 21, 2017.
From time to time, FCA may receive inquiries about potential strategic transactions and will evaluate such inquires consistent with its duties to stakeholders. As a matter of policy, FCA does not comment on market rumors and therefore does not intend to comment further on any inquiries.
Its statement on August 21 said that it had not been approached by Great Wall Motor about buying FCA’s Jeep brand or any other part of the business.
FCA has been looking for a strategic partner to help it reduce costs of investing in electric and autonomous vehicles.
Chief executive Sergio Marchionne previously said he would talk to anyone who knocked at FCA’s door.