Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault.
"There is no plan under consideration regarding merger operations with other manufacturers," Elkann said in a statement, adding that the group was focused on the execution of its long-term business plan.
Elkann also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis.
Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups.
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