London (CNN Business) Lamborghini owner Volkswagen Group said Wednesday that the brand is not for sale following reports that it had received a €7.5 billion ($9.2 billion) offer from Switzerland's Quantum Group. "Lamborghini is not for sale, full stop," said a spokesman for Audi, the Volkswagen subsidiary that controls the luxury carmaker. "Audi AG and the Volkswagen Group [are] not considering this offer." UK publication Autocar reported on Tuesday that Quantum Group sent a letter of intent to Volkswagen Group earlier this month, laying out terms for the purchase of Lamborghini. Quantum Group did not respond to a request for comment.

Source: CNN May 26, 2021 15:33 UTC