Volkswagen AG, Fiat S.
p.A. and Fiat's controlling shareholder all denied a German magazine report today that the companies have discussed a possible merger.
Volkswagen has approached rival Fiat about a possible merger, Germany's Manager Magazin reported on its website on Thursday, citing unnamed company sources.
VW Chairman Ferdinand Piech, who is a member of the family that controls the German carmaker, has held various talks with associates and members of the Agnelli family, which controls Fiat, Manager Magazin reported.
However, a VW spokesman said today the company currently had no takeovers on the agenda as it focuses on improving efficiency at the group.Read Article