Shutterstock photo(RTTNews.com) - Shares of Fiat Chrysler Automobiles N.V. ( FCAU ) were gaining around 4 percent in the morning trading following reports that China'sGreat Wall Motor Co Ltd is interested in buying all or at least part of the Italo-American company.
Specialized US website Automotive News reported that China's Great Wall carmaker had reached out to FCA expressing an interest in buying its SUV brand Jeep. The report cited an email from Great Wall President Wang Fengying saying her company was "connecting with FCA" to begin negotiations.
Previously, Automotive News reported that an unnamed Chinese automaker was interested in buying the whole of FCA.
FCA boss Sergio Marchionne reportedly has stated that the company needs a tie-up with another carmaker to ensure its long-term future.
China'sGreat Wall Motor Co Ltd (601633.SS) is interested in bidding for Fiat Chrysler Automobiles (FCA) (FCHA.MI), a company official said on Monday, confirming earlier reports that it is pursuing all or part of the owner of brands including Jeep and truckmaker Ram.
There has been speculation over Chinese interest in FCA since Automotive News reported last week that an unidentified "well-known Chinese automaker" made an offer earlier this month, triggering a jump in FCA's Milan-listed shares.
An official at Great Wall Motor's press relations department, reportedly told Reuters, "With respect to this case, we currently have an intention to acquire. We are interested in (FCA)."
In Italy, Fiat Chrysler shares were trading at 11.12 euros, up 3.93 percent.
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