The news is advanced by the circumspect Asia Times, which, citing unidentified sources, warns: Chung Mong-koo, the CEO of the Hyundai group, has been closely monitoring the value of FCA's shares, with the aim of, at a favorable time, , acquire a sufficient number of shares of the Italian-American group to enable it to become the main shareholder and assume control of the company.
Also according to the same sources, the South Korean giant is considering moving forward after the departure, in 2019, of the all-powerful Sergio Marchionne from the commands of Fiat Chrysler Automobiles, also taking advantage of a supposed lack of predisposition on the part of the current Chairman and main shareholder , John Elkann, to lead the builder's destinies.
Currently with only a residual presence in the Asian region, FCA may even benefit from the entry of the Hyundai group, not only due to the financial strength of the South Koreans, but also as a result of the privileged commercial relations that exist between the US and Korea. South.
Marchionne was already in favor of the merger… but not with Hyundai
Moreover, Marchionne himself had publicly expressed his interest in a merger between FCA and another car group in the past, and even lobbied for a possible partnership with General Motors. This, while having some exploratory contacts with PSA and with the Chinese Great Wall — its partner in China.
As for Hyundai's interest, it appeared, for the first time, still in 2017, with the news referring that the South Korean manufacturer will have even directly expressed the desire to buy capital in FCA. Contacts that Marchionne undertook, however, to deny, with the Asian group then announcing that the talks were only aimed at a possible technical partnership, in the field of hydrogen propulsion and transmissions.
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World's biggest builder in perspective
If the merger between Hyundai and FCA takes place, this will give rise, immediately, to the world's largest automobile group, with around 11.5 million cars delivered per year . But will it happen? On June 1, during "Capital Markets Day", where the strategy for the next four years of some of the group's brands was outlined, Marchionne, contrary to what he had defended previously, stated that, currently, the plan does not it goes through merging with another group, although without closing the door to future partnerships.