Ferdinand Piëch, Volkswagen's chairman and grandson of Ferdinand Porsche, said he would be keen to acquire Alfa Romeo, one of Europe's most famed car brands which is owned by Fiat.
Piech (pictured), speaking at the Paris motor show, said VW would be "interested in taking over Alfa Romeo" to add to the 10 marques the carmaker already owns.
Sergio Marchionne, Fiat's chief executive, responded by saying: "None of our cars are up for sale."
But Piech said: "Time works in our favour on such a deal."
The Piech family are the largest shareholder in VW, Europe's biggest family controlled business. Fiat is majority owned by the Agnelli family.
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