Fiat Chrysler Automobiles
had contacts with Geely of China before the Chinese group became
the largest shareholder in Daimler, Bloomberg reported Tuesday.
It said Geely and FCA talked about a possible merger but the
preliminary talks were interrupted in mid-2017 because of
differences on valuations.
The billionaire who controls Geely, Li Shufu, contacted FCA
while evaluating options to expand outside China, Bloomberg
reported.
Li decided not to present a formal offer because of
differences of opinion over the future evaluation of FCA.
There has been a lot of speculation about Chinese interest in
FCA recently.
Among the potential bidders, media said, were Dongfeng Motor,
Great Wall, Guangzhou Automobile and Geely.
The latter denied a bid fro FCA in mid-August.
Geely is a multinational carmaker headquartered in Hangzhou,
Zhejiang.
It sells passenger vehicles under the Geely Auto, Volvo, Lynk
& Co, PROTON, and Lotus brands and commercial vehicles under the
London EV Company and Yuan Cheng New Energy Commercial Vehicle
brands.
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