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Report: Daimler discusses cooperation with Fiat truck arm
Sep 23, 2010, 12:11 GMT
Berlin - Daimler is in talks with Fiat's truck arm on 'cooperation,' a German newspaper reported Thursday, a day after the German company flatly denied being in talks to buy the Fiat operation.
The business daily Handelsblatt quoted Daimler sources saying the companies were in talks on how the Mercedes truck arm and its rival, Fiat's Iveco trucks unit, could possibly cooperate.
On Wednesday, Daimler had said Italian reports that it had made an offer to buy Fiat's heavy vehicles division, which includes Iveco, were untrue.
Handelsblatt said Daimler had discarded the idea of buying Iveco because this would run into problems with monopoly regulators.
Daimler is the leading commercial vehicles supplier in the European market and Iveco ranks fourth.
Fiat chief executive Sergio Marchionne has been advancing plans to split off Fiat's trucks, tractors and construction machinery division and make it a separately listed stockmarket company.
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