A PYMNTS Company

EU: Fiat Chrysler’s CEO says a GM merger still makes sense

By  |  March 7, 2017

Fiat Chrysler Chief Executive Sergio Marchionne remains interested in a merger with General Motors, saying on Tuesday that it still made sense even after GM sold its European operations to PSA Group.

Marchionne has long advocated more car industry mergers to share the prohibitive costs of making cleaner and more technologically advanced vehicles, but GM has firmly rebuffed his previous approaches.

“I never close any doors. I may shamelessly try and knock again … on the GM door or any door if I thought it was a good thing for the business. Absolutely, without even blinking,” Marchionne told reporters at the Geneva car show.

“The desirability of GM as a potential merger candidate remains untouched.”

FCA’s share price shot up last month on the day news of the talks between GM and PSA first emerged, with some analysts suggesting GM could be tempted to subsequently regain a foothold in Europe through FCA, which is more profitable than the Opel business that has been losing money for many years.

Full Content: Fortune

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.