BMW CEO says sees no need for BMW to participate in large-scale M&A

FILE PHOTO: BMW German luxury carmaker new CEO Oliver Zipse speaks at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - German carmaker BMW BMWG.DE will not engage in large merger and acquisition deals, even if the coronavirus crisis adds pressure on companies to share costs, Chief Executive Oliver Zipse said on Thursday.

“There is currently no sense, or need, to do any M&A activities on the top level of the industry,” Zipse said, adding that there may be opportunities to expand the carmaker’s expertise in certain components or competencies.

Reporting by Edward Taylor, editing by Thomas Escritt