Fiat Vice Chairman John Elkann wants the Turin-based Italian industrial group to become bigger, an Italian newspaper reported on Friday amid increasing speculation about a spin off of its auto activities.
"I would like to talk about my dream of a more and more strong Fiat ... a bigger Fiat, with head and heart in Turin," Elkann told an audience of businessmen and professionals at a private meeting in Turin, daily la Repubblica said.
Fiat should "work on the integration with (U.S. car maker) Chrysler and reinforce its presence in emerging markets and keep a leading position in innovation," Elkann, who belongs to the Agnelli family which controls Fiat, was quoted as saying.
According to Saturday weekly Milano Finanza, Fiat Chief Executive Sergio Marchionne is considering merging Fiat's auto activities with Chrysler, of which the Italian group has a 20 percent stake, as part of the spin-off plans.
Milano Finanza, which did not cite any sources, said the merger with Chrysler would bring Fiat's stake in the auto unit down to around 50 percent.
Fiat declined to comment on the report.
Marchionne said on Wednesday Fiat could discuss spinning off its auto unit when it presents a five-year strategic plan on April 21, in a move that could unlock value for the company and cheer the market.
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