Fiat gets Fca and is ready to ally themselves: “Can birth to a giant … – The Messenger

Fiat gets Fca and is ready to ally themselves: "Can birth to a giant … – The Messenger

LONDON – “There is the chance of a number one of the largest manufacturer Toyota. The industry needs it because it’s still too fragmented rispettoal capital to invest. “

He said the CEO of Fiat Sergio Marchionne Chrysler in an interview with Bloomberg Businessweek, early today. The new Chrysler Fiat Group Automobiles (Fca) “will be ready to participate, if it will make sense” in a possible process of consolidation that could occur in the next 5-10 years. So John Elkann, chairman of Fca, in a joint interview with the CEO. Sergio Marchionne to “Bloomberg Businessweek”.

The two managers have indicated that Fca, number seven in the world, does not need an operation, but will look at favorable combinations with partners that have activities outside of the European market too crowded. Neither Elkann nor Marchionne, however, have wanted to identify what might be the companies involved in a process of consolidation. Marchionne added that “there is room for a larger group than the current number one Toyota,” noting that “the industry needs them as it is still very fragmented.”

Elkann also said “not to be a seller» and that the share of his family could be diluted only “to make the group stronger.” Fiat is one of the best blue chips on the stock market (+ 1.38% to 7.34 euro), despite having half the gains of the morning, thanks to the words of Sergio Marchionne and John Elkann on a role in the consolidation in the industry. The title is shown near the 7,727 euro for the termination, the price at which the shares returned by the shareholders opposed to the birth of Fca were offered to other shareholders.

And in the day we will know how many titles are left in the hands of the group, which aims to place them at US investors after its debut on Wall Street. Sergio Marchionne, also, will remain at the helm of Fiat and Chrysler until 2018, the end of the five-year business plan that sets as a goal the sale of 7 million cars globally: “There are several things that the next CEO will have to do and that are totally different from those that I do, “Marchionne said, explaining that his decision there will be no change of direction” and then – he pointed out – it is right that young people go forward. “