PARIS (Reuters) – Stellantis will not be on the lookout for to mix with or to buy varied different players, John Elkann, chairman of the French-Italian automobile producer, knowledgeable info agency AFP on Monday, in the course of present 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,” claimed Elkann in a gathering to AFP on the sidelines of the Paris Car Show.
“We, as Stellantis, consider that we have a competitive size.”
Elkann is each chairman of Stellantis and its solitary largest investor by way of the Agnelli members of the family funding agency EXOR.
Earlier this month, Stellantis CHIEF EXECUTIVE OFFICER Carlos Tavares had truly claimed rumours of a merging in between Stellantis and Renault had been “pure speculation”.
Although he didn’t eradicate the sale of name names from the 14-strong Stellantis profile, if unlucrative, Tavares beforehand on Monday claimed he had truly rejected offers from Chinese rivals.
“We’re not ready to consolidate, but we’re not ready to deconsolidate. This is not the time,” Elkann knowledgeable AFP.
(Reporting by Benoit Van Overstraeten; Editing by Giulio Piovaccari)
