Fiat Chrysler Automobiles CEO Sergio Marchionne said he has "zero interest" in pursuing a merger with Volkswagen AG, despite bringing up the possibility earlier this month.
"I only said that if you were the No. 1 automaker in Europe and somebody combines with another automaker to become the second and gets very close to your position, your very first reaction is to distance the second again," Marchionne told reporters Wednesday following remarks by President Donald Trump. "We are the only natural combination partner for somebody who wants to do that. If you were playing a chess board game, that's what you would do."