The Volkswagen Group’s CEO has rejected suggestions from his Fiat Chrysler Automobiles counterpart that the German brand could be contemplating a bid for the Italian company.
“We are not ready for talks about anything,” Matthias Müller said at the Geneva International Motor Show, according to Reuters.
“I haven’t seen [FCA CEO Sergio] Marchionne for months. We have other problems,” Müller added, likely referring to continuing fallout from the diesel emissions scandal.
The comments come after Marchionne suggested to Bloomberg that the Wolfsburg-based automotive group could soon approach FCA to talk about a merger.
“I have no doubt that at the relevant time VW may show up and have a chat,” Marchionne said, adding that the recent acquisition of Opel by the PSA Group (which owns Peugeot, Citroën and DS Automobiles) “threatens VW most, creating a number two [in Europe] on its heels”.