DaimlerChrysler's stock rose Tuesday on speculation that the U.S. unit will be sold. Buyout experts from two private equity firms are meeting this week with Chrysler Group executives about possibly making a bid to buy the struggling U.S. unit, a company official said Tuesday.
The official, who did not want to be identified because the talks are confidential, told the Associated Press that Cerberus Capital Management representatives visited the company's Auburn Hills, Mich., headquarters Monday to review the automaker's finances, while Blackstone Group officials are to arrive later in the week.
Although Zetsche wouldn't comment on possible alternatives for Chrysler, he did say that the German-American automaker and General Motorshave started talks on joint-development plans for future products.
GM Chief Executive Rick Wagoner wouldn't comment on Chrysler, saying: "I will leave that to Zetsche."
Other car manufacturers, however, continued to rule themselves out of bidding for the Detroit-based business.
PSA Peugeot Citroen Chief Executive Christian Streiff said at the Geneva show that PSA was focused on improving quality and profitability and therefore "did not have time" to look at Chrysler.
Germany's Volkswagen, Italy's Fiat, France's Renault, Japan's Nissan Motor and South Korea's Hyundai Motor, have all said they are not interested.
BMW Chief Executive Norbert Reithofer joined the club by declaring in Geneva that the world's biggest premium carmaker had no interest in Chrysler.