Monday, May 04, 2009

Motor Industry: Fiat sets its sights on Opel

Italian car company Fiat says it is interested in taking over Opel, the German division of financially troubled U.S. carmaker General Motors.

Fiat chief Luca Cordero di Montezemolo told Italy's Corriere della Sera newspaper that Opel is an "ideal partner." He said a takeover would be an "extraordinary opportunity."

Opel has been suffering through the world economic crisis along with many other global automakers. But the German government says it has no plans to offer direct help to Opel.

Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits