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Volkswagen CEO says "open" to further acquisitions

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(Globalpost/GlobalPost)

By Andreas Cremer and Jan Schwartz

WOLFSBURG, Germany (Reuters) - Volkswagen <VOWG_p.DE> remains "open" to making further acquisitions, though the German group has its work cut out integrating its twelve brands, Chief Executive Martin Winterkorn said.

"We are currently well positioned with twelve brands, but there are always opportunities that one cannot pass up," the CEO told Reuters Television in an interview on Thursday at the car maker's base in Wolfsburg.

"We have no further projects in the drawer, but we're always wide awake to what's happening in the world," Winterkorn said.

Europe's largest car maker last year expanded its stable of brands to a dozen, acquiring Italian motorcycle maker Ducati through its Audi luxury-car division and completing a long-awaited purchase of sports-car manufacturer Porsche.

VW Chairman Ferdinand Piech has repeatedly expressed interest in Fiat's <FIA.MI> Alfa Romeo unit despite comments by Fiat CEO Sergio Marchionne that the Italian brand is not for sale. Asked whether VW was still interested in Alfa Romeo, Winterkorn replied: "Alfa Romeo is a great brand."

(Reporting by Andreas Cremer and Jan Schwartz.)

http://www.globalpost.com/dispatch/news/thomson-reuters/130314/volkswagen-ceo-says-open-further-acquisitions