Samsung Reporrtedly In Talks To Buy Assets Of Fiat Auto-Parts Unit

(RTTNews) - South Korean conglomerate Samsung Electronics (SSNLF.OB, SSNNF.OB, SMSN.L) is in advanced talks to buy some or all of the operations of auto-parts maker Magneti Marelli from Fiat Chrysler Automobiles NV, Bloomberg reported citing people familiar with the matter.

Samsung is particularly interested in Magneti Marelli's lighting, in-car entertainment and telematics business and could consider an acquisition of the whole company. The deal could be worth more than $3 billion with a goal of closing this year, the report said.

A move into automobile components would help decrease Samsung's reliance on consumer electronics.