Fiat Chrysler Automobiles chief executive Sergio Marchionne says he has no interest in pursuing a merger with Volkswagen AG.
Earlier this month, the outspoken CEO raised the possibility of an FCA and VW merger but told reporters yesterday that he will not chase VW CEO Matthias Muller for a merger.
“I only said that if you were the No. 1 automaker in Europe and somebody combines with another automaker to become the second and gets very close to your position, your very first reaction is to distance the second again. We are the only natural combination partner for somebody who wants to do that. If you were playing a chess board game, that’s what you would do,” he said.
Just yesterday, VW’s Muller said that he would be open to conversations with Marchionne if the FCA chief were to approach him. However, that doesn’t seem likely to happen.
“If he wants to come, he knows where I live. I didn’t chase him and I have no intention of chasing him. But if I’m right on consolidation and the fact you need to build scale, we’re the natural place to go for him. will not call Matthias. I have no interest,” Marchionne hit back.
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