PSA/Peugeot-Citroen will only be ready for a possible merger after it has completed its recovery plan, CEO Carlos Tavares told a newspaper, dampening speculation of a potential tie-up with Fiat Chrysler.
"[Fiat Chrysler boss] Sergio Marchionne is welcome every time he wants to speak to us but for us it's a little bit early now," Tavares said in an interview published by Italy's Corriere della Sera today. "We need to finish our cure and recover our good health."
Earlier this month Marchionne said he was exploring various merger and acquisition options.
Equity researchers MainFirst have speculated how a potential merger between Fiat Chrysler and PSA could work out. The two companies could form a new automaker called Peugeot Chrysler Fiat Automobiles with Marchionne as chairman and Tavares as CEO, MainFirst said, according to a report in French newspaper Les Echos.
Reuters contributed to this report