Stellantis does not rule out M&A operations but now focusing on itself: CEO

Stellantis does not rule out M&A operations but now focusing on itself: CEO

Stellantis Chief Executive said he did not rule out extraordinary operations for the company although the car maker is now focused on itself, speaking in an interview published on Thursday.

FILE PHOTO: Carlos Tavares, Chief Executive Officer and Chairman of the Managing Board of PSA Group
FILE PHOTO: Carlos Tavares, when Chief Executive Officer and Chairman of the Managing Board of PSA Group, attends the Tomorrow In Motion event on the eve of press day at the Paris Auto Show, in Paris, France, October 1, 2018. REUTERS/Regis Duvignau/File Photo

ROME: Stellantis Chief Executive said he did not rule out extraordinary operations for the company although the car maker is now focused on itself, speaking in an interview published on Thursday.

"I do not want to open to speculation, we will see. For the moment Stellantis is concentrated on focusing on itself and on what surrounds it," CEO Carlos Tavares told financial daily Il Sole 24 Ore, when asked whether he would consider any extraordinary operations for the newly-formed carmaker.

Tavares added that M&A operations would be taken into consideration only if they represented a way to reach "more quickly a sufficient scale to support growth".

(Reporting by Giulia Segreti, editing by Maria Pia Quaglia)

Source: Reuters

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