Fiat has said that a planned Chrysler IPO will now not happen this year. Fiat boss Sergio Marchionne had previously said it would happen before the end of the year.  

It is now thought more likely to happen in the first quarter of 2014, although uncertainty over whether Fiat can reach agreement with the UAW controlled VEBA healthcare trust to purchase its 41.5% stake will persist.

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“The Board of Directors of Chrysler Group … has determined that it will not be practicable for Chrysler Group to launch and complete an initial public offering prior to the end of 2013,” Fiat said in a statement.

Reuters noted that investors had hoped that the preliminary work for the IPO of part of the VEBA stake might have helped narrow the difference between the two sides. The report added that traders are saying the IPO delay indicates a deal between Fiat and the VEBA is “not around the corner”.

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