Fiat was not among the many possible investors explored by PSA Peugeot Citroen's founding family. John Elkann, the Italian car manufacturer's chairman and controlling stockholder shared on Monday.

The Peugeot clan was one of Europe's three remaining car dynasties. Last week's Reuters' informants said Philippe Varin, beleaguered chief executive, together with Peugeot relied on the 7% stockholder GM. As soon as they sounded out the other probable venture capitalists like Chinese partner Dongfeng, they conclusively turned to GM.

The family's acceptance of the fact that they need to give up control would result to a wide consolidation. Europe's loss-producing car industry and plant closures were assumed to make alliances.

Elkann answered "No." when asked if he had organized talks with the Peugeot family.

 "As we've said before, certainly if we were presented with an interesting (partnership) opportunity, we would be open to considering it," he added.