Fiat S.p.A. is flat out denying a report and subsequent rumors that it has been in discussions with Volkswagen regarding a potential merger.
Fiat released the statement this morning to quell reports and rumors set off by an exclusive report in the German magazine “Manager-Magazin.” That report said The Volkswagen Group was exploring the chances of a takeover or partial takeover of the Italian/American competitors Fiat Chrysler. Volkswagen’s major shareholders — Ferdinand Piëch, the Elkann family — and the Agnelli family as principal Fiat owners, plus their negotiators, had already held various discussions, the magazine reported in its latest cover story.
