Fiat General Motors (GM) Europe, UK Vauxhall, Opel.
First Fiat last week announced the takeover at Chrysler….Now in a dramatic weekend of negotiations yesterday the Fiat (Italy) chairman Luca Corderodi di Montezemolo announced that Fiat is in negotiations with General Motors (Europe) the owners of Opel (Germany) and Vauxhall (UK) and Saab (Sweden) with the intentions of a takeover, thus bailing out both GM and Opel (need 3.3bn euros) from their own government commitments.
Saab under independent swedish law appears not to be in couded in th enegotiations.
Canadian Magna International are also in potential negotiations with Opel.
Fiat CEO Sergio Marchionne is due to visit German ministers today and was quoted as saying “This would make Fiat very strong”…how much do they pay him for that wisdom ?