Martedì, 23 Ottobre 2018

Marchionne calls Chrysler-Fiat merger 'inevitable'


Turin, April 9 - Sergio Marchionne said Tuesday
that the merger of Fiat with Chrysler is coming, but the
timetable is not yet clear.
"The merger with Chrysler is inevitable," Marchionne, chief
executive officer of both automakers, told a shareholders
meeting on Tuesday.
However, the timing hasn't yet been worked out, he added.
"I hope that by the end of the year we will have more
certainty about how to achieve it".
Fiat took over Chrysler in 2009 following bankruptcy and
turned its fortunes around.
It now owns about 60% of Chrysler which these days, thanks
to its strong sales in North America, is keeping the company
Marchionne has frequently said that a full merger between
Fiat and Chrysler is necessary and repeated Tuesday that this
"must be completed" - the difficulty is finding the revenues for
Fiat to finalize the transaction.
Tuesday, he also ruled out selling Fiat's holdings in the
Ferrari brand to finance the Chrysler takeover.

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