MILAN (Reuters) - Fiat Chrysler Automobiles (MI:FCHA) has not made any agreement with China's Guangzhou Automobile Group (GAC) <601238.SS> to sell a stake, the Italian carmaker's chairman John Elkann said on Wednesday.
Fiat Chrysler already has a partnership with GAC that enables it to manufacture in China. Earlier this month an Italian newspaper said GAC was considering making an offer for a majority stake in Fiat.
Asked also if French carmaker Peugeot (PA:PEUP) could make a good partner, Elkann said Fiat was looking for a transformational deal.
"This (Peugeot) would not fall in this category," Elkann said.
According to a report in Les Echos on Tuesday, the French government is weighing a possible sale of part or all of its 14 percent stake in PSA.
Elkann, also head of holding company Exor (MI:EXOR) which controls Fiat, was talking at the Exor shareholder meeting.