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Article: A post-GM China alliance for Fiat Auto?(Opinion)
- Article from:
- Automotive News Europe
- Article date:
- January 10, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Luca Ciferri
By the end of this week, Fiat CEO Sergio Marchionne and his GM counterpart Rick Wagoner should have met face to face in a neutral location to settle the companies' put-option dispute.
"It is too soon to say if an agreement could be reached by this coming Friday," a Fiat spokesman said.
But one way or another, the two companies need to find a solution soon or face a damaging and costly legal battle that neither wants.
GM believes a put option, which would require it to buy the remaining 90 percent of Fiat Auto, can no longer be exercised by Fiat because of changes the Italian conglomerate made within the company.
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