German Econ Min: Fiat Plans To Enter Car Alliance Debt-Free
04 Mai 2009 - 3:41PM
Dow Jones News
German Economics Minister Karl-Theodor zu Guttenberg said Monday
after a meeting with Fiat SpA's (F.MI) Chief Executive Sergio
Marchionne that the Italian automaker wants to forge a global car
alliance and plans to enter this new company free of debt.
Zu Guttenberg told reporters that Marchionne sees the need for
consolidation if Fiat was to buy General Motors Corp.'s (GM) German
unit Opel, adding that the company's German assembly plants and
German headquarters would be kept.
German labor unions and several politicians oppose a possible
Opel takeover by Fiat amid concerns over wide-ranging cutbacks.
Austrian-Canadian auto parts supplier Magna International Inc.
(MGA) has also voiced interest in Opel, but the company so far
provided little details on any possible investment.
Web site: www.bmwi.de
-By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512;
christoph.rauwald@dowjones.com