A PYMNTS Company

Italy: Fiat Chrysler denies merger talks with Peugeot

 |  March 1, 2016

Fiat Chrysler Automobiles is not in tie-up talks with anyone at present, and a potential partner would need to have the same multi-brand strategy as FCA for a merger to work, Chief Executive Sergio Marchionne said on Tuesday.

FCA shares got a lift last week after France’s Peugeot said it was open to strategic opportunities in the auto sector, sparking speculation the two companies could enter merger discussions, but Marchionne said there were no talks with Peugeot.

Speaking on the sidelines of the Geneva auto show, Marchionne added that since the failure of his bid to tie up with U.S. rival GM, the world’s seventh-largest carmaker had decided to carry on solo and was certain of reaching its ambitious targets for the years to 2018 even without a partner.

In January, FCA raised the financial targets of its five-year turnaround plan following a better-than-expected performance in North America and Europe and strong sales of its Jeep SUVs, but some analysts wondered whether the indebted carmaker would be able to execute it on its own.

Full content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.