General Motors (GM) has rejected recent speculation it might be interested in selling its troubled Opel unit to Fiat.

Italian daily Il Sole-24 Ore reported last week that Fiat’s CEO Sergio Marchionne was ready to buy Opel if GM’s alliance with Peugeot dissolves.

But GM vice chairman Stephen Girsky told Reuters: “Opel is not for sale. GM fully stands behind Opel. Opel is a fully integrated part of GM’s global footprint and vital for GM’s future success in Europe. The GM-PSA alliance is fully on track.”