Fiat declines to comment on spinoff rumors
MILAN (AP) —
Fiat Chrysler Automobiles has declined to comment on inquiries involving potential deals with other carmakers for strategic assets, in response to a request from Italian market regulator Consob.
Fiat Chrysler shares have been trading higher after Chinese SUV maker Great Wall said it was interested in buying the Jeep Brand. Fiat denied any approach by Great Wall last week, but the Chinese carmaker's interest was enough to fuel additional speculation that the Italian-American carmaker could spin off such brands as Maserati and Alfa Romeo, sending the stock higher.
In a statement Friday, Fiat said that "from time to time, FCA may receive inquiries about potential strategic transactions," but the carmaker said "it does not comment on market rumors, and therefore does not intend to comment further on any inquiries."