Fiat chairman Luca Cordero di Montezemolo said ON Wednesday the takeover of Germany's Opel from US auto giant General Motors was "a lottery," adding that Fiat had "done everything possible" to win the bid.
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Chrysler LLC looks set to clear its last major hurdle in its sprint through bankruptcy court as soon as Thursday, when a judge is expected to overrule more than 340 objections and approve its sale to a group that includes Italy's Fiat.
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Fiat plans all-wheel-drive version of city car star based on forthcoming estate model
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Chrysler faces its day of judgement today (27 May) as a bankruptcy court judge rules on a sale of its key assets to give the ailing automaker a fresh start in a partnership with Italy's Fiat.
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As the race for Opel enters a critical phase in which the German government chooses a preferred bidder, analysts are concluding that the political backdrop in Germany and the need for concessions on capacity reductions threatens to undermine the benefits that a Fiat-Opel merger could bring.
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With the German government expected to make its decision on who it favours to buy a majority share in General Motors' Opel unit tonight (Wed), Fiat's bid was boosted as Italy's second largest lender, Intesa Sanpaolo, said it was ready to provide Fiat with financial support.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government has decided to give Fiat and Magna preferred bidder status for General Motors' Opel unit and grant them access to the automaker's books, the German daily Die Welt said.
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The German government is continuing talks with Fiat S.p.A. and other bidders for carmaker Opel following constructive negotiations with the Italian auto company, a government official said on Tuesday.
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Intesa SanPaolo is ready to give financial support to Fiat S.p.A. for its Opel bid, the Italian banking giant's chief executive said on Tuesday.
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Germany denied it was considering a possible breakup of carmaker Opel ahead of a crucial final round of meetings on Tuesday between the government and top executives from Italian suitor Fiat.
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Fiat and Guangzhou Automobile Industry Group (GAIG) have signed an agreement to jointly produce passenger cars in Guangzhou province, according to Chinese sources.
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Fiat CEO Sergio Marchionne is trying to convince General Motors and the German government that Opel will be better off with his "no-cash, no-debt" deal than a rival proposal that includes a one-time injection of money. Fiat S.p.A.
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Fiat CEO Sergio Marchionne is trying to convince General Motors and the German government that Opel will be better off with his "no-cash, no-debt" deal than a rival proposal that includes a one-time injection of money. Fiat S.p.A.
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Germany will decide on a preferred bidder for General Motors unit Opel by the middle of the week, after holding a final round of talks with suitors Fiat, Magna International and RHJ.
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Volkswagen, Fiat and other European makers of thrifty cars could earn billion of dollars in operating profits from U.S. President Barack Obama's proposed fuel economy standards.
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Magna International and Fiat have improved their offers for General Motors unit Opel ahead of a crucial week in which the German government is expected to decide which bid it supports.
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Volkswagen, Fiat and other European makers of thrifty cars could earn billion of dollars in operating profits from U.S. President Barack Obama's proposed fuel economy standards.
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Volkswagen, Fiat and other European makers of thrifty cars could earn billion of dollars in operating profits from U.S. President Barack Obama's proposed fuel economy standards.
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