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Fiat still interested in Opel

11:50 AM Fri, Jun 05, 2009 |
Peter C. T. Elsworth    Email

MILAN -- Fiat CEO Sergio Marchionne said Friday that the Italian automaker hasn't given up on Germany's Opel, even though a tentative Opel takeover deal by rival bidders Magna International Inc. and Russia's Sberbank was moving ahead, according to The Associated Press.
"Our interest remains, but it is not up to us," Marchionne was quoted by Italian news agencies ANSA and Apcom as saying at an event in Turin, Fiat's hometown. "Technically, it's not closed. Let's see."

German government officials, as well as U.S. authorities and Opel's parent General Motors Corp., have underlined that the deal with Magna is preliminary, and that the process is still open for all bidders.

The deal has raised the ire of officials in Belgium and Britain, where Opel and the sister company Vauxhall run plants, because of the emphasis German officials placed on retaining jobs in Germany over other countries.


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 Tags  Fiat General Motors Opel


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