Great Wall Motor says it
has not contacted Fiat Chrysler's board
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[August 22, 2017]
HONG KONG (Reuters) -
Chinese automaker Great Wall Motor Co Ltd has not
contacted Fiat Chrysler Automobiles NV's board nor has
it signed any agreements with the Italian-American
automaker, it said on Tuesday. |
A specialist trader works at the post where Fiat
Chrysler Automobiles is traded on the floor of the New
York Stock Exchange (NYSE) in New York, U.S., March 8,
2017. REUTERS/Brendan McDermid |
Automotive News first reported on Monday that Great Wall Motor
President Wang Fengying planned to contact FCA to discuss
acquiring the Jeep brand.
Two people familiar with the matter told Reuters on Monday that
Great Wall Motor had asked for a meeting with FCA to make an
offer for all or part of the group.
"We took interest in FCA but there has been no concrete progress
so far," Great Wall Motor said in a filing to the Shanghai stock
exchange on Tuesday.
"We have not had any negotiation, nor signed any agreements with
FCA," the filing added.
Trading in Great Wall Motor's Shanghai-listed shares will resume
on Wednesday, after it was suspended on the company's request.
(Reporting by Meg Shen; editing by Susan Thomas)
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