PARIS (Reuters) – Stellantis is not looking for to combine with or to get various other gamers, John Elkann, chairman of the French-Italian car manufacturer, informed information company AFP on Monday, amidst current rumours of a tie-up with French rival Renault.
“We are really focused on the business, at the level of our reference shareholders, the board, our CEO and the management team. Not on the possible distractions of consolidation operations, whatever they may be,” stated Elkann in a meeting to AFP on the sidelines of the Paris Car Show.
“We, as Stellantis, consider that we have a competitive size.”
Elkann is both chairman of Stellantis and its solitary biggest investor via the Agnelli family members investment firm EXOR.
Earlier this month, Stellantis CHIEF EXECUTIVE OFFICER Carlos Tavares had actually stated rumours of a merging in between Stellantis and Renault were “pure speculation”.
Although he did not dismiss the sale of brand names from the 14-strong Stellantis profile, if unlucrative, Tavares previously on Monday stated he had actually rejected deals from Chinese rivals.
“We’re not ready to consolidate, but we’re not ready to deconsolidate. This is not the time,” Elkann informed AFP.
(Reporting by Benoit Van Overstraeten; Editing by Giulio Piovaccari)
