VW says no M&A projects on agenda, denies report on Fiat talks

BERLIN Thu Jul 17, 2014 9:10am EDT

The Volkswagen logo is seen at the Frankfurt Motor Show (IAA) in this September 10, 2013 file photo.  REUTERS/Pawel Kopczynski

The Volkswagen logo is seen at the Frankfurt Motor Show (IAA) in this September 10, 2013 file photo.

Credit: Reuters/Pawel Kopczynski

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BERLIN (Reuters) - German carmaker Volkswagen (VOWG_p.DE) said on Thursday there were currently no merger and acquisition projects on its agenda.

Manager Magazin reported on Thursday that VW Chairman Ferdinand Piech had held talks with owners of Fiat (FIA.MI) about purchasing all or part of the Italian firm.

VW and Fiat have both denied that such talks have taken place.

"There are currently no M&A projects on the agenda," a spokesman at VW's Wolfsburg-based headquarters said. "We are now focusing on boosting efficiency across the group."

(Reporting by Andreas Cremer and Jan C. Schwartz; Editing by Pravin Char)

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