Fiat Chrysler Denies Merger Talks With Volkswagen0
There’s been a lot of merger speculation involving Fiat Chrysler and Volkswagen lately. According to Germany’s Manager Magazin, Volkswagen Chairman Ferdinand Piech has held talks with the owners of Fiat Chrysler about buying part of or the entire group that was formed by this year’s merger between the Italian and North American automakers.
However, representatives from Volkswagen’s management and supervisor board insist that this isn’t true, with a VW spokesman stating that the German automaker was focusing on improving its current existing operations. “There are currently no merger and acquisition projects on the agenda. We are now focusing on boosting efficiency across the group.” VW Chief Executive Martin Winterkorn has added that his plans to focus on integrating its 12-brand network instead of expanding the group through acquisitions – this despite having approximately 18 billion euros ($24 billion) on hand.
An analyst at London-based ISI Group, Arndt Ellinghorst, believes that the report could depict “diverging views” within Volkswagen’s management and supervisory board – specifically between Winterkorn and Piech – who are “likely to debate over succession.”