BERLIN/MILAN: Fiat Chrysler has denied a magazine report saying it’s in merger talks with Volkswagen, while the German carmaker said it had no takeovers on its agenda.
Germany’s Manager Magazin said yesterday Volkswagen (VW) Chairman Ferdinand Piech had held talks with the owners of Fiat Chrysler about buying all or part of the group that was formed this year from the merger of Italian and US carmakers.
The magazine cited unnamed company sources. However, a VW spokesman said Europe’s biggest carmaker was focused on delivering improvements at its existing operations. “There are currently no M&A (merger and acquistion) projects on the agenda,” he said. “We are now focusing on boosting efficiency across the group.” Reuters
