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Fiat CEO Sergio Marchionne has confirmed rumors that emerged last week that the Italian automaker is interested in partnering with GM’s European operations.
Marchionne told Fiat-owned newspaper La Stampa that Fiat now has to “concentrate on Opel. They are our perfect partner.”
Fiat completed a partnership arrangement with Chrysler on Thursday that would give it a 20 percent stake in the ailing American automaker, just before U.S. President Barack Obama announced that Chrysler would file for bankruptcy.
Although it was first thought that Marchionne sought a partnership with Opel, GM’s European division, it was later speculated that Fiat would seek a controlling stake in the division instead. GM is seeking to divest Opel, but Fiat faces competition from Austrian-Canadian supplier Magna International.
Source: Automotive News
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