8/24/2017, 5:14 PM (Source: TeleTrader)
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FCA, VW talk on joint light utility vehicles: report

Volkswagen AG may let Fiat Chrysler Automobiles NV into a portfolio consisting of the Caddy van and Amarok pickup, according to unnamed sources quoted by the Wall Street Journal on Thursday. The people close to the alleged negotiations said the contacts focused on the possibility to manufacture light utility vehicles together.

The leaked information indicates talks didn't go beyond the said segment. The news outlet added it learned the representatives of the two companies are trying to make an agreement which would cover the next versions of the models, but that the size or market extent remained unknown.

The German automotive giant remained off session lows at 4:58 pm CET, adding 0.9% and changing hands for €127.75 per share. FCA traded 4.69% up at €12.7 in Milan, after spiking to as high as €12.92 per share, the strongest level in history, as recent spinoff and takeover rumors sparked investor interest.

Baha Breaking News (BBN) / IT