General Motors is in the midst of a 90-day deep dive with Renault-Nissan to decide whether the three automakers should form an alliance. So how does that sit with Toyota, which has worked with GM and is Nissan's ancient rival?
Might Toyota try to upset the apple cart by making its own offer?
Business Week reported that Toyota is considering bidding to join forces with GM. The magazine said Toyota executives have "war-gamed" possible scenarios by which it could help GM's turnaround.
"Toyota has no interest in seeing an alliance like this (involving Renault, Nissan and GM) take place," said an unidentified Toyota executive the magazine quoted.
The story didn't get much traction. Talk that Toyota might do its own deal with GM or otherwise try to outmaneuver Renault-Nissan is "idle speculation," said Jim Press, president of Toyota Motor North America Inc.
In London, GM chief Rick Wagoner told reporters: "We haven't had any discussions with Toyota on this matter." He added: "I don't have any plans to have any discussions with Toyota on this matter."
Yet Wagoner kept the story alive.
"A lot of focus and effort is going to go into studying the Renault-Nissan opportunity," he said. "But I really can't rule out, as time goes on, other opportunities that GM could identify that would create value."