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Fiat denies report CEO made comments on Chrysler IPO
October 10, 2013 / 12:27 PM / 4 years ago

Fiat denies report CEO made comments on Chrysler IPO

Fiat Chief Executive Sergio Marchionne poses during a visit at the carmaker's Sevelsud plant in Atessa, central Italy, July 9, 2013. REUTERS/Remo Casilli

MILAN (Reuters) - Italian carmaker Fiat FIA.MI denied on Thursday a report by broker Sanford C. Bernstein that Chief Executive Sergio Marchionne had made comments discouraging investors from taking part in a listing of its U.S. unit Chrysler.

In a statement on Thursday Fiat said the Bernstein report misrepresented the presentation CEO Sergio Marchionne gave at a Fiat investor meeting.

“The report mischaracterizes Mr Marchionne’s presentation, which was made at a Fiat investor meeting and does not accurately record his comments,” Fiat said in a statement without giving details of Marchionne’s comments.

Fiat also said that neither Fiat nor Chrysler nor any of its respective managers had authorized any articles or recommendations with respect to any investment in Chrysler.

Fiat, with 58.5 percent of Chrysler, wants to own it all but has not been able to agree a price with the United Auto Workers union, which owns the rest via its retirees’ healthcare trust VEBA. In September Chrysler filed papers for a market listing.

Reporting by Stephen Jewkes; Editing by Lisa Jucca

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