Fiat Chrysler is up more than 4% on Monday morning after Great Wall Motors confirmed that it is interested in acquiring at least part of the company.
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Fiat Chrysler pops after a Chinese car company says its interested in the brand (FCA)
Fiat Chrysler has been seeking a partner for years, and it might finally have one.
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The interest focuses on Fiat's Jeep and Ram brands of off-road vehicles and trucks. Reports surfaced recently that a Chinese automaker was interested in placing a bid for the brands, and a Great Wall Motors company spokesperson confirmed the reports to Reuters Monday morning.
Fiat Chrysler said in a statement it has not yet been approached by the Chinese automaker.
Fiat CEO Sergio Marchionne has been trying to find a merger partner for Fiat Chrysler for years, so the news wasn't surprising to investors.
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Shares of Fiat Chrysler are up 32.1% this year.
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