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Daimler denies reports of moves to buy Fiat industrial business
Sep 22, 2010, 11:15 GMT
Stuttgart, Germany - German carmaker Daimler AG denied Wednesday media reports that it was in talks to buy the industrial operations of Italy's Fiat SpA.
'No such discussions with Fiat are taking place,' said a Daimler spokesman.
The Stuttgart-based auto group's denial followed a report in the Rome daily La Repubblica saying that Daimler was interested in Fiat's industrial operations and had made a preliminary offer of more than 9 billion euros (12 billion dollars).
Turin-based Fiat has drawn up plans to spin off its automobile operations from its industrial business.
From January next year, the two companies are to be listed on the Milan Stock Exchange as independent corporate entities.
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