Volkswagen and Fiat denied rumours from yesterday that the German company is interested in purchasing the Italian brand

Volkswagen and Fiat denied rumours from yesterday that the German company is interested in purchasing the Italian brand.

Both Fiat and the Agnelli family, the biggest investor in the company, said no talks between them and VW were held. The Turin-based firm stated that “they have not held discussions with Volkswagen regarding a potential merger”. A spokesman for the Agnelli family also commented no talks have taken place.

Independently, Volkswagen also denied the report from Manager Magazine, saying that “we’re concentrating now on reaping efficiencies within the group”.

Juergen Pieper, an analyst at Bankhaus Metzler in Frankfurt, Germany, commented that “Volkswagen has an urge to become the No. 1 global automaker, and an acquisition of that size would bring them to their target immediately”, but “a real interest in Fiat as a whole is rather unrealistic and would entail many problems”.

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