Quizzed on rumours linking the firms, with JLR owner Tata Motors reported to be considering an outright or partial shareholding sale, at the FT Future of the Car summit, Speth said: "There are lots of rumours flying around but I can't confirm any of these discussions."
Asked if he and PSA boss Carlos Tavares had spoken, Speth said: "I have met Carlos Tavares at ACEA (the association of European car makers) meetings but we didn't discuss anything about ownership".
Terminalsecurity first reported talks of a potential deal last month, while last week, the Press Association reported seeing a 'post-sale integration document' that has been circulated within JLR, highlighting the benefits of the company being sold by Tata Motors to PSA, which comprises Citroën, DS, Peugeot and Vauxhall/Opel. A source also told the PA that "things are moving quickly behind closed doors."
In reponse to that, Tata Motors re-affirmed a previous statement saying that "there was no truth to rumours that Tata Motors is looking to divest its stake in JLR."
A PSA Group spokesperson told PA that it was in "no hurry" to make any acquisitions, but added it would "consider" any oportunities that came along.
Tavares has been open in recent months about his desire to expand the group, either through acquisitions or partnerships with other car firms. Tavares led PSA’s purchase of Vauxhall/Opel from GM in 2017. The Peugeot family, which owns the largest stake in the PSA Group, also recently said it would back future mergers or acquisitions, including with the FCA Group.