China's Geely Denies Seeking to Buy Alfa-Romeo, Maserati
Tang Shihua
/SOURCE : yicai

(Yicai Global) Jan. 31 -- Geely Holding Group, a Chinese auto giant that has snapped up European carmakers in the past, has poured cold water on an Italian media report today that it is interested in acquiring the Alfa-Romeo and Maserati brands from Fiat-Chrysler Automobiles.   

The report is groundless and misleading, the Zhejiang-based firm said in a statement. The company has no plans to purchase these assets and has not made any contact regarding a deal.

The priority at this stage is to focus on nurturing innovation and core competencies for sustainable development, the firm said. The company was reportedly interested in taking over parent firm FCA last year.

Geely has owned Swedish passenger car producer Volvo Cars since 2010 and also bought British taxi firm the London Electric Vehicle Company in 2013. It also holds a majority stake in British sports brand Lotus and is the largest individual shareholder in Daimler-Benz.

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Keywords: Market Rumour Denied , M&A , Geely Holding Group , Alfa-Romeo , Maserati , Italy , Fiat-Chrysler Automobiles