Marchionne hopes to come to agreement with VEBA about Chrysler's value.Fiat CEO Sergio Marchionne has announced that the Italian automaker will complete its merger with Detroit-based Chrysler in 2014.
Speaking with Italy's La Repubblica newspaper, Marchionne indicated that he wants to buy the remaining 41.5 percent of Chrysler directly from VEBA, a United Auto Workers pension fund. VEBA has not agreed to sell the shares to Fiat and it has said in the past that Marchionne grossly underestimates the value of the company, a problem that led to a lawsuit last September.
"VEBA and Fiat have a different opinion on how much Chrysler is worth but I believe we will be able to find a solution to the problem in 2014," said Marchionne.
Alfa is not for sale
The outspoken executive once again made it clear that selling the storied Alfa Romeo brand is completely out of the question.
"Alfa is one of the premium companies that we want to focus on developing over the coming years," said Marchionne, "We're certainly not going to sell the firm, especially not to Volkswagen."
Marchionne quickly added that he admires Volkswagen for the technical innovations that it has brought to the market over the last 30 years but that he can't stand the group's arrogance.
"I have to admit, I find it hard to say the name Volkswagen. I have to practice all morning beforehand."