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Article: Fiat Deal Won't Soak GM, Analyst Contends.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 14, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. 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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By Jamie Butters, Detroit Free Press Knight Ridder/Tribune Business News
Mar. 14--Fiat SpA may not, in fact, be able to force General Motors Corp. to buy the 80 percent of Fiat Auto that it doesn't already own, a stock analyst argues.
Scott Hill of Sanford C. Bernstein in New York says that Fiat SpA's put option has too many holes and that Fiat can't afford to fight about it.
"The put really has no value. It's not going to happen," Hill said recently in a telephone interview.
That would be good news for the Detroit automaker, but it isn't subscribing to that view. "We wouldn't comment at all on that type of a speculation," said ...