Volkswagen interested in buying Fiat - German magazine

Adam Jeffery | CNBC

German carmaker Volkswagen is interested in buying Italian rival Fiat German monthly magazine Manager Magazin reported on its website on Thursday, citing unnamed company sources.

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Fiat's owners want to shift their focus to the Ferrari supercar brand and quit its traditional automotive business, the publication said, without being more specific.

VW and Fiat's owners are still far from reaching an agreement on a possible price for the Italian carmaker, Manager Magazin said.

Wolfsburg-based VW and Fiat declined to comment.

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