Fiat CEO Met Germany's Merkel, Outlined Opel Bid
26 Mai 2009 - 1:54PM
Dow Jones News
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).
-By Jennifer Clark, Dow Jones Newswires; 39 02 58 21 9904;
jennifer.clark@dowjones.com