GM chief rules out alliance with FCA (2)

(ANSA) - Frankfurt, September 14 - General Motors chief Mary Barra on Monday ruled out an alliance with FCA. "((Fiat-Chrysler Automobiles) FCA chief Sergio) Marchionne has stopped looking for us. It's not in the interests of our shareholders to ally with FCA," she said.
    Bloomberg reported earlier this month that Marchionne would wait until the end of the spinoff of Ferrari next year before launching a possible bid for GM.
    "While...Marchionne isn't known for his patience," it said, "he's likely to wait until next year before making a bid for General Motors Co. after months of talk about the potential of a deal.
    "The spinoff of Ferrari SpA, which is slated for early 2016, could be the catalyst for Marchionne to make an offer for the U.S. automaker. Ferrari's separation would raise money for the debt-laden company. The move is also key for the Agnelli family, Fiat's dominant shareholder, which is keen to keep control of the Italian supercar maker.
    "Marchionne has been crusading for consolidation in the auto industry, including in an April presentation called "Confessions of Capital Junkie." He argues that automakers waste money by developing multiple versions of the same technology and so should merge".