Marchionne Halts ‘Unrealistic’ Merger Dreams for Fiat Chrysler

Fiat Chrysler Chief Executive Officer Sergio Marchionne is putting his search for a merger on the back burner as he focuses on reaching the Italian-American carmaker’s goal of eliminating debt before he retires in 2019.

"We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically important results and a debt-free position," Marchionne told investors in Amsterdam at the company’s annual general meeting. "We are not at a point of time to discuss any alliance."