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| China's Great Wall eyes Fiat Chrysler bid | China's Great Wall eyes Fiat Chrysler bid |
| (about 1 hour later) | |
| China's Great Wall Motor is sizing up Fiat Chrysler, the Italian-American carmaker that also owns Jeep. | China's Great Wall Motor is sizing up Fiat Chrysler, the Italian-American carmaker that also owns Jeep. |
| A Great Wall official told Reuters it had "an intention to acquire" some or all of the world's seventh-largest car maker. | A Great Wall official told Reuters it had "an intention to acquire" some or all of the world's seventh-largest car maker. |
| However, Fiat Chrysler said it was yet to receive an approach from Great Wall - China's biggest SUV maker. | However, Fiat Chrysler said it was yet to receive an approach from Great Wall - China's biggest SUV maker. |
| Earlier reports said the Chinese firm had asked to meet Fiat executives to discuss buying the Jeep brand. | Earlier reports said the Chinese firm had asked to meet Fiat executives to discuss buying the Jeep brand. |
| Jeep, which celebrated its 75th birthday last year, is considered FCA's most valuable asset. | Jeep, which celebrated its 75th birthday last year, is considered FCA's most valuable asset. |
| Its reputation dates back to World War Two, when Jeeps were used extensively by the US military. | Its reputation dates back to World War Two, when Jeeps were used extensively by the US military. |
| Shares in Fiat Chrysler Automobiles rose 3.5% in Milan on Monday and have jumped more than a quarter this year, valuing the company at about $19bn (£14.7bn). | |
| However, the Jeep brand alone could be worth as much as $27bn alone, according to Morgan Stanley analysts. | |
| Jeep sold 1.4 million vehicles last year and aims to shift 2 million vehicles annually by 2018. | |
| Great Wall sold just over 1 million vehicles last year - mostly in China, which is now the world's largest car market. | |
| Bill Russo, a former Chrysler executive now with Gao Feng Advisory Group, said he believed Great Wall wanted Jeep rather than all of FCA and its debts of about $4.9bn. | |
| "Jeep is the crown jewel of Fiat Chrysler in terms of brand and equity," he said. | |
| Great Wall is known for its SUVs, vehicles, which are popular in China, so a deal would be "quite complementary", Mr Russo added. | |
| Yale Zhang, head of Shanghai-based consultancy Automotive Foresight, said: "Jeep is the most logical choice, since [Great Wall] wants to be the largest SUV maker in the world. | Yale Zhang, head of Shanghai-based consultancy Automotive Foresight, said: "Jeep is the most logical choice, since [Great Wall] wants to be the largest SUV maker in the world. |
| "The Jeep brand is recognised globally. I think Great Wall Motor is eyeing a global strategy, not just the United States." | "The Jeep brand is recognised globally. I think Great Wall Motor is eyeing a global strategy, not just the United States." |
| What is Great Wall Motor? | |
| Earlier this year, it officially launched a new premium SUV brand called Wei, which potentially could tap into the US market. | Earlier this year, it officially launched a new premium SUV brand called Wei, which potentially could tap into the US market. |
| Fiat Chrysler chief executive Sergio Marchionne is seeking a partner or buyer to help it manage rising costs, emissions regulations and the development of electric and self-driving cars. | Fiat Chrysler chief executive Sergio Marchionne is seeking a partner or buyer to help it manage rising costs, emissions regulations and the development of electric and self-driving cars. |
| FCA also owns Alfa Romeo, Maserati and RAM trucks. | FCA also owns Alfa Romeo, Maserati and RAM trucks. |