Tuesday, February 20, 2007
Hyundai not in running for Chrysler
HYUNDAI MOTORS is the first car-maker to distance itself from speculation that it could be in the running to bid for Chrysler.
"We are not considering to buy Chrysler because our hands are full," Hyundai spokesman, Jake Jang, said.
But, only two days after Daimler Chrysler AG said it was considering all options for its American Chrysler division, unconfirmed reports abound that JP Morgan Chase & Co., Daimler Chrysler's investment banker, is to issue a prospectus to potential buyers fairly soon, and that the German company is already in talks with GM about a possible Chrysler deal.
A Daimler Chrysler spokesman, however, declined to comment on the reports and Bob Lutz, GM's vice chairman, did likewise.
Analysts such as Global Insight and the Center for Automotive Research at Ann Arbor, both talk cautiously about a GM buy-out.
DATED: 20.02.07
FEED: AW
"We are not considering to buy Chrysler because our hands are full," Hyundai spokesman, Jake Jang, said.
But, only two days after Daimler Chrysler AG said it was considering all options for its American Chrysler division, unconfirmed reports abound that JP Morgan Chase & Co., Daimler Chrysler's investment banker, is to issue a prospectus to potential buyers fairly soon, and that the German company is already in talks with GM about a possible Chrysler deal.
A Daimler Chrysler spokesman, however, declined to comment on the reports and Bob Lutz, GM's vice chairman, did likewise.
Analysts such as Global Insight and the Center for Automotive Research at Ann Arbor, both talk cautiously about a GM buy-out.
DATED: 20.02.07
FEED: AW
