Fiat SpA (F.MI) Chief Executive Sergio Marchionne met with German Chancellor Angela Merkel Tuesday to outline Fiat's bid for General Motors Corp.'s (GM) German unit Adam Opel GmbH, a Fiat spokesman said.

"Fiat presented its offer for Opel," the spokesman said.

The German government hopes to name its preferred bidder by Wednesday night, in a rush to settle the fate of Opel before the expected bankruptcy filing of General Motors.

The announcement of a favored bidder will pave the way for German government financing to enable Opel to continue operating.

Marchionne will meet with Merkel again Wednesday.

Fiat's rival bidders are Canadian auto parts suppler Magna International Inc. (MGA) and RHJ International (RHJI.BT).

The German government sees no frontrunner for Opel yet, German Economy Minister Karl-Theodor zu Guttenberg said Tuesday. All bidders are still in the race, he said, adding that Fiat still needs to improve its offer further.

Intesa Sanpaolo SpA (ISP.MI) Chief Executive Corrado Passera Tuesday said the bank is ready to provide financial support to Fiat's expansion plans.

Speaking on the sidelines of an event in Milan, Passera said that the bank's mission is to provide cash, when asked about the possibility of giving money to support an amended offer from Fiat for Opel.

Last week, Intesa Sanpaolo, UniCredit Spa (UCG.MI) and Goldman Sachs (GS) were appointed financial advisors of Fiat.

-By Jennifer Clark, Dow Jones Newswires; 39 02 58 21 9904; jennifer.clark@dowjones.com