Sergio Marchionne, Chief Executive of Italian carmaker Fiat, has confirmed that negotiations to buy the 41.5% investment of Chrysler, which the former does not own yet, are still ongoing.
In a Reuters report, Marchionne told the journalists that "the talks have not produced any results so far, so we don't have anything to announce".
US healthcare trust VEBA currently owns the said 41.5% stake but no deal regarding a possible contract has been substantiated.
"If they accept our price, we could close this week," Marchionne jokingly added in reply to queries about an agreement's timing.
Fiat and VEBA, who are presently litigating in a Delaware court pertaining to the price, are seemingly poles apart regarding the issue. VEBA values the Chrysler asset at $10.3 billion while Fiat has estimated it at only $4.2 billion.
In May, Fiat Chairman John Elkann said that the court's resolution over the dispute will pave way to buying the remaining of Chrysler.
Join the Conversation