Daimler: No Talks With Fiat Over Industrial Unit

FRANKFURT (Dow Jones)--German automaker Daimler AG (DAI.XE) said Wednesday it isn't bidding for Fiat SpA's (F.MI) industrial unit, dismissing a report by Italian daily La Republicca.
"There are no talks with Fiat," a Daimler spokeswoman said.
This comes in response to a source story in Italy's La Repubblica Wedensday stating that Daimler was interested in buying Fiat Industrial, the trucks and agricultural equipment maker that the Italian car maker plans to spin off into a separate unit in early 2011.
According to the newspaper, Daimler had floated a preliminary offer of EUR9 billion for the unit, while Fiat wanted EUR10.5 billion and for any transaction to take place after Fiat Industrial shares are separately listed next year.

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