Inactive Instrument

Fiat SpA Borsa Italiana

FIA

IT0001976403

Fiat : VW says no M&A projects on agenda, denies report on Fiat talks

July 17, 2014 at 09:10 am EDT

BERLIN (Reuters) - German carmaker Volkswagen (>> Volkswagen AG) said on Thursday there were currently no merger and acquisition projects on its agenda.

Manager Magazin reported on Thursday that VW Chairman Ferdinand Piech had held talks with owners of Fiat (>> Fiat SpA) about purchasing all or part of the Italian firm.

VW and Fiat have both denied that such talks have taken place.

"There are currently no M&A projects on the agenda," a spokesman at VW's Wolfsburg-based headquarters said. "We are now focusing on boosting efficiency across the group."

(Reporting by Andreas Cremer and Jan C. Schwartz; Editing by Pravin Char)

Stocks treated in this article : Fiat SpA, Volkswagen AG

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Stellantis N.V., formerly Fiat Chrysler Automobiles N.V., is an automaker and a mobility provider. The Company is engaged in designing, engineering, manufacturing, distributing and selling vehicles, components and production systems. The Company has operations in more than 40 countries and sells its vehicles directly or through distributors and dealers in more than 130 countries. It designs, engineers, manufactures, distributes and sells vehicles for the mass-market under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands. In addition, the Company designs, engineers, manufactures, distributes and sells luxury vehicles under the Maserati brand. The Company's brand portfolio also includes Peugeot, Citroen, DS Automobiles, Opel and Vauxhall.

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2024-04-30 - Q1 2024 Sales and Revenue Release

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