FCA shares surge on China rumours (3)

(ANSA) - Milan, August 14 - Shares in Fiat Chrysler Automobiles (FCA) rose 4% in Milan Monday on an Automotive News report that FCA managers have met execs from Chinese automaker Great Wall. In its report, the US trade paper said: "For more than two years, FCA has been FSBO -- that's For Sale By Owner - with no serious offers.
    "Not anymore.
    "Representatives of a well-known Chinese automaker made at least one offer this month to buy Fiat Chrysler Automobiles at a small premium over its market value...The offer was rejected for not being enough, a source said.
    "Meanwhile, other sources independently identified executives from other large Chinese automakers conducting their own due diligence on a potential purchase of FCA, including meeting last week with representatives of U.S. retail groups about a potential acquisition. "A source said FCA executives have traveled to China to meet with Great Wall Motor. "And Chinese delegations were seen last week at FCA's headquarters in Auburn Hills, Michigan.