Samsung to buy Magneti Marelli

Sergio Marchionne has hinted FCA, who has long been looking for a partner, could join forces with Samsung.

The Fiat Chrysler Automobiles chief executives said to be interested in selling Magneti Marelli, FCA's auto-parts unit and Samsung could be the buyer.

During a recent interview with Bloomberg Television in Rome, Marchionne said “We have a very good relationship with Samsung, both as a supplier and as a potential strategic partner."

When quizzed about whether Samsung would make a bid for Magneti Marelli, the executive declined to comment. According to insiders however, Samsung is already in advanced talks to buy some or all of the company.

Automotive News reports that Samsung has a keen interest in the in-car entertainment, telematics and lighting businesses of Magneti Marelli.