Fiat’s vice chairman John Elkann told La Repubblica newspaper that he wants to expand the group, increasing speculation about a spin off of its automotive business.
He told the newspaper that he had a vision of a stronger, bigger Fiat with its head and heart in Turin.
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Fiat should work on integration with Chrysler and reinforce its presence in emerging markets and keep a leading position in innovation.
According to Saturday weekly Milano Finanza, Fiat CEO Sergio Marchionne is considering merging Fiat’s auto activities with Chrysler, in which the Italian group has a 20% stake, as part of a move towards a spin-off. The newspaper did not cite any sources and added that such a merger would bring Fiat’s stake in the auto unit down to around 50%.
Fiat did not comment on the report. Marchionne said last week that Fiat could discuss spinning off its auto unit when it presents a five-year strategic plan on 21 April.
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By GlobalData
