MILAN (Reuters) - Italian carmaker Fiat FIA.MI said on Monday it was not aware of an alleged probe by stock market regulator Consob into its liquidity position and said any suggestion that its cash pile was lower than reported in its statements was false.
A report in Rome-based daily Il Messaggero said Consob was trying to determine the “size and purpose” of Fiat’s cash pile, which the carmaker has put at 22.7 billion euros.
Consob declined to comment.
“Fiat, like other listed companies, regularly receives requests for information by Consob on several issues (including liquidity) to which it regularly responds, but it is not aware of any ”investigation“ as reported by the journalist,” Fiat said in a statement.
“Any suggestion that Fiat may not have the liquidity stated in its financial statements is false and will be treated as such by Fiat,” Fiat said.
Reporting By Silvia Aloisi