German automaker Volkswagen has expressed its intentions to acquire Fiat’s Alfa Romeo brand. “Alfa is a globally recognized brand with sporty genes and a great tradition. If such a treasure could be had, we must not hesitate … too long,” said a source from Volkswagen. He also stated that Volkswagen may be able to help Fiat with its support strategy. On the other hand, Fiat has refused to comment on any such speculations and has denied any plans to sell the brand.
On the official note, Richard Gadeselli, Fiat spokesman, did not return calls from the press asking for an official statement. However, one of the Fiat spokesmen said that the company is sticking to Alfa’s turnaround plan announced by Fiat CEO Sergio Marchionne earlier this year. Marchionne wants to transform Alfa into a “full-line premium carmaker” selling 500,000 units in 2014. Similarly, Michael Brendel, official Volkswagen spokesperson, stated that Volkswagen does not respond to market rumours.
VW has been continuously linked with Alfa Romeo’s takeover. Volkswagen has created immense cash of $22.3 billion over the years in order to overtake Toyota in size by 2018.
