DaimlerChrysler denies alliance with Fiat

7th September 2005, Comments 0 comments

7 September 2005, ROME/STUTTGART - DaimlerChrysler on Wednesday denied press reports suggesting Fiat was about to forge an industrial alliance with the German-American carmaker.

7 September 2005


ROME/STUTTGART - DaimlerChrysler on Wednesday denied press reports suggesting Fiat was about to forge an industrial alliance with the German-American carmaker.

"This is nonsense," a DaimlerChrysler spokesperson told Deutsche Presse-Agentur dpa when asked to comment reports published on Wednesday in Italy's leading newspapers.

Rumours of a Fiat-DaimlerChrysler deal follow comments made Tuesday by Fiat CEO Sergio Marchionne.

Speaking at the launch of the Italian carmaker's new Punto model, Marchionne had said the company was working to seal an industrial alliance with a foreign partner by "the end of the year".

Marchionne did not elaborate but said the new partner would not be Asian but "in a sense European".

Automotive experts believe the statement points directly at the German-U.S. consortium.

Fiat, which is struggling to return to profit, broke off its alliance with Detroit-based General Motors in February.

DPA

Subject: German news


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