Hyundai interested in acquiring controlling stake in FCA

Hyundai could buy Fiat Chrysler Automobiles

Hyundai could buy Fiat Chrysler Automobiles

Chennai: Changes are the forefront in the automotive sector with the EV boom taking the centre stage. The report suggests that Hyundai (NASDAQ: HYMTF) is waiting for a decline in FCA's stock price before launching the takeover.

Hyundai could be a good partner to FCA since it is now relatively weak in the Asian region, where Hyundai has a strong base.

Hyundai has denied rumors that it is planning a massive buyout of FCA shortly before chief executive Sergio Marchionne steps down. According to sources, company chairman and major shareholder John Elkann doesn't have much interest in running the automaker, so he could see a merger as an attractive alternative.

The closer political ties between the US and South Korea might make the merger more palatable for regulators in the countries. Marchionne has been at the helm of both Fiat and Chrysler since 2011 (and before that for Fiat), and was instrumental in the merger of the two in 2014, forming FCA.

England beat Colombia on penalties after dramatic night in Moscow
England finally ended their penalties curse when they beat Colombia 4-3 in a shootout, completing a nerve-wracking 120 minutes. Even if Rodriguez is out, Radamel Falcao and Colombia have enough firepower on paper to still come away victorious.

Latest Buzz on Deals for Kawhi Leonard, Kevin Love, More
New Orleans gave Julius Randle a two-year, $18 million contract, potentially eliminating themselves as suitors for the center. He averaged 9.2 points, 5.2 rebounds and 2.9 assists a game for IN last season, his first campaign without missing a game.

How to Watch Colombia vs England
The result means the Three Lions will face Sweden on Saturday, as they continue their quest for a first title since 1966. Colombia almost lost Wilmar Barrios to a red card late in the first half.

"That rumour is totally groundless", senior group manager of Hyundai corporate and marketing PR Michael Stewart told the US' Cnet. That would not be the case with a Hyundai-FCA merger, rumors of which first surfaced past year. However, they confirmed to be open to a technical partnership to jointly develop future transmissions and hydrogen tech. He was allegedly in talkes with General Motors, but did not exclude other partners.

A recent report indicates Hyundai is eyeing FCA for a possible takeover attempt, the Korean automaker is officially claiming that this isn't the case.

If a Hyundai-FCA merger were to happen, it would create the world's largest automaker.

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