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Reports say VW wish to take over Fiat, but Italian carmaker refute the reports
Reports say VW wish to take over Fiat, but Italian carmaker refute the reports

This is big! Reports coming through via a German business newspaper reveal that Fiat has been approached by Volkswagen with regard to a possible buyout, when contacted Fiat denied the claims of the German publication.

Report circulated via the German business publication claimed that the people who control Fiat, the Agnelli family is searching an exit route from the mass production of car business and is in dialogue with the German automaker Volkswagen regarding a likely buyout. A spokesperson working for Exor, a Fiat controlled investment firm however denied any such move and told USA Today that the companies are not involved in any discussion regarding a merger pact between VW and Fiat.

 

The officials from Volkswagen are mum about the entire episode and no comments have forth come. In the case of a Fiat buyout by the German firm it would obviously take control of Chrysler and establish strong control in the US market, which the company has been struggling for years to achieve. Apart from this, Ferdinand Piech , the CEO of Volkswagen is quite infatuated with Alfa Romeo and he would finally have an opportunity to lay his hands on the brand. A takeover of Fiat would also establish Volkswagen as the biggest automakers in the world, an aim the company has been nurturing for a long time and has expressed the same on several occasions in the past. 

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