Fiat's Offer For GM's Opel Still On The Table - Italy PM
11 Juni 2009 - 8:35PM
Dow Jones News
Italian Prime Minister Silvio Berlusconi said Thursday that the
offer Fiat SpA (F.MI) made for the purchase of General Motors
Corp.'s (GMGMQ) German unit Adam Opel Gmbh was "still on the
table."
"Fiat proposal for Opel - which has strong industrial basis - is
still on the table," Berlusconi told reporters after meeting Fiat
Chief Executive Sergio Marchionne and Chairman Luca Cordero di
Montezemolo in Rome at an event to show him the vehicles the
Italian car maker will provide for a July meeting of the Group of
Eight countries.
"We're waiting for the situation to be defined," added the
Italian premier.
At the end of May, the German government chose Magna
International Inc.'s (MGA) consortium over Fiat's offer and pledged
to provide EUR1.5 billion in bridge financing to keep the
Ruesselsheim-based auto firm afloat following the bankruptcy filing
of parent GM in the U.S.
Fiat and Chrysler LLC closed their U.S. government-brokered
alliance Wednesday, a day after the U.S. Supreme Court removed the
transaction's last remaining obstacle.
Company Web site: http://www.fiatgroup.com
-By Giada Zampano and Liam Moloney, Dow Jones Newswires; +39 06
6976 6924; liam.moloney@dowjones.com