Fiat Chairman Luca Cordero di Montezemolo on Monday denied any interest by his group for Jaguar and Land Rover, which the Ford Motor Company has decided to sell.
Speaking to the press on the sidelines of a business assembly, Montezemolo added "right now we're focused on presenting our new Fiat 500. After that we will concentrate on lots of new models for Alfa Romeo and Lancia".
Ford on Monday was reported to have asked the merchant banks Goldman Sachs, Morgan Stanley and HSBC to sell the luxury Jaguar and Land Rover marques.
The American car company, however, will hold on to the Volvo marque.
Ford sold the luxury British marque Aston Martin in March in an attempt to turn the Detroit company around after a record loss of %12.7 billion in 2006.
Volvo, Jaguar, Aston Martin and Land Rover alone accounted for $327 million in losses.
Following the 2005 'divorce' from its alliance with General Motors, Fiat has embarked on a number of 'targeted' joint ventures.
These include one with Ford to develop a common platform for Fiat's new 500 city car and Ford's revamped Ka model.
