Fiat Chrysler shares dip over emissions meeting squabble

Shares in Fiat Chrysler Automobiles were down almost 2% in Europe as a red-tape squabble between the transport ministers for Germany and Italy came to the fore.

The automaker was supposed to turn up at an emissions meeting in Germany on Thursday to discuss possible emissions irregularities of its diesel vehicles.

Fiat Chrysler sent a lawyers' letter instead, cancelling the get-together.

Germany's transport minister, Alexander Dobrindt, subsequently criticised Fiat Chrysler for what he said was "uncooperative behaviour" and "completely incomprehensible," Reuters reported.

Traders believe the stock will remain under pressure until the market has more clarity on the scale of the issues, the news agency reported.

The matter took a further turn when Italy's transport minister, Graziano Delrio, weighed in and said German authorities should reach out to Italy's car regulators, not the company.

He had sent a letter to Dobrindt stating that the two nations' emissions authorities should discuss Fiat Chrysler emissions.

Fiat Chrysler has said its cars meet European Union emissions standards. Its shares have, with some volatility, been trading more or less sideways since January.