(RTTNews) – Fiat Chrysler Automobiles NV’s (FCAU) chief executive officer said Monday he has no plans to sell its Jeep business or split up the company.
CEO Sergio Marchionne last year sparked talk that the auto maker might be willing to part with its Jeep sports utility and Ram truck brands, and he has courted rivals with talk of merger. But he backed away from both those options as he prepares to step down next year
“We have no intention of breaking it up” and selling parts of the business to Chinese or other buyers, Mr. Marchionne said at a news conference at the Detroit auto show.
The outspoken CEO, who once touted the idea of joining forces with General Motors Co. to boost profitability and cut excess production, said that is no longer something he is interested in pursuing. “The merger [talk] is done. That’s history, that’s three years ago,” he said.
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