Fiat Eyes Opel
Fiat studies its options and one of them now includes bidding for German carmaker Opel. The Italian carmaker Fiat is seeking to merge its car division with General Motors Europe and ailing US car firm Chrysler to create an automotive giant second only to Japan’s Toyota in terms of production.
Fiat’s chief executive, Sergio Marchionne, will meet German government ministers today to discuss a bid for the German car maker Opel, part of GM Europe. If the talks go to plan, Fiat would list shares in the combined company this summer. Marchionne described the plan as “an incredibly simple solution to a very thorny problem”.
He told the Financial Times: “From an engineering and industrial point of view, this is a marriage made in heaven.”
Opel, hit by a slump in demand due to the global downturn, has four plants in Germany and employs about 25,000 workers. Thousands more jobs at suppliers are at stake.
(Source) Guardian
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