- Apr 27, 2009
Clash of the Titans: Fiat reportedly squaring off with European Union over mergers
Although Fiat lost half a billion dollars in the first quarter of this year and holds a debt of some $8.6 billion, sources suggest that the pending deal with Chrysler would have Fiat providing technology and expertise but no cash in exchange for a 20% stake in the troubled American automaker. Meanwhile, although Fiat Group chairman Luca di Montezemolo denied the company was pursuing any interest in GM's European subsidiary Opel, Marchionne is now asserting that would consider the possibility, but that no offer had been made to date.
[Source: The Detroit News | Image: Andrej Isakovic/AFP/Getty]