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07/21/2014 04:31 PM ID: 94698 Permalink   

Fiat Denies Report of Merger Talks With Volkswagen


Fiat has denied a magazine report saying it´s in merger talks with German automaker Volkswagen.

"No merger discussions between Fiat and Volkswagen were held," said Andrea Griva, a spokeswoman for Fiat´s controlling stakeholder Exor. Manager, a German magazine, reported that Volkswagen has approached rival Fiat about a possible merger.

Ferdinand Dudenhöffer, expert and professor at the University of Duisburg-Essen in Germany said the deal "makes sense only if you want to destroy Volkswagen".

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