Photo: thedetroitbureau.com
In an article we published a few days ago, we stated that Sergio Marchionne, CEO of the Fiat group, had been in talks with Peugeot and Opel, reportedly trying to get him onboard for a merger of the three companies, into one single larger entity, to rival the might of the VW Group.
However, Marchionne is now saying that, in fact, the report is not true, saying that while he may occasionally talk to the heads of the other companies, he does not do it very often, and this particular matter was not discussed. “We discuss a variety of things when we chat, which is not a very frequent event [. . .] Fiat’s condition in Europe has been discussed. I’m sure that there were comments that were made about Opel from time to time and I’ve discussed trading conditions with Philippe (Varin) from time to time,” said Marchionne.
He added: “We’re all dismayed at the level of depressed pricing that we’re seeing in Europe. I think that’s a collective or a shared view, so there’s nothing unusual about that [. . .] What’s unusual in my view is that the story will break out about a potential transaction involving us and PSA and Opel. I mean it’s bizarre.”
This new information should not be taken as it is, because there is a possibility that the companies may be keeping the deal secret (if it exists at all), before making an official announcement when details are finalized, as is most often the case.
Story via autonews.com
He added: “We’re all dismayed at the level of depressed pricing that we’re seeing in Europe. I think that’s a collective or a shared view, so there’s nothing unusual about that [. . .] What’s unusual in my view is that the story will break out about a potential transaction involving us and PSA and Opel. I mean it’s bizarre.”
This new information should not be taken as it is, because there is a possibility that the companies may be keeping the deal secret (if it exists at all), before making an official announcement when details are finalized, as is most often the case.
Story via autonews.com
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