TURIN, Italy (Reuters) -- Sergio Marchionne, the CEO of Fiat Chrysler Automobiles, quashed all speculation of a possible tie-up with Volkswagen Group today, saying the idea had never been on the agenda.
Germany's Manager Magazin reported last week that Volkswagen Chairman Ferdinand Piech had held talks with the owners of Fiat Chrysler about buying all or part of the group. Fiat's owners want to shift their focus to the Ferrari brand and quit the volume automotive business, the publication said, without being more specific.
Fiat and Exor have already denied the German report, while Volkswagen said it had no takeover plans.
John Elkann, the head of holding group Exor which controls Fiat Chrysler via a 30 percent stake, said at the same event as Marchionne that there was nothing else to add on the matter.
Marchionne said he still expected to list the merged Fiat Chrysler Automobiles in the United States in the first two weeks of October. Fiat shareholders will vote on the merger next week.