Fiat has denied recent media reports that its financial reporting was under investigation. Italian papers Il Messaggero and Il Mattino had claimed that the stock market regulator Consob had launched a probe into its liquidity position. Fiat had reported €22.7bn (US$29.4bn) in liquidity on 30 June 2012. The articles imply that the regulator has doubts as to the validity of the financial reporting.
In response, the OEM has issued the following statement: “Fiat, like other listed companies, regularly receives and responds to requests from Consob for information on a variety of issues (including liquidity), but the company is not aware of any ‘investigation’ similar to that claimed by the above journalist [Osvaldo De Paolini]. Any implication that Fiat’s liquidity position is not as reported in its financial statements is false and Fiat will treat the matter accordingly.”
