Fiat has made an offer to buy majority stake in Opel

It’s not as if the proposed partnership between Fiat and Chrysler was already facing enough trouble, Fiat’s chairman of Opel’s works council Klaus Franz confirmed today that the Italian automaker has made a secret offer to purchase a majority stake in Opel.

Franz said that Fiat has shown General Motors it’s interest in taking over Opel and could sign a letter of intent as early as April 28.

Opel has been in talks with Magna International on a possible partnership over the past month but the talks have apparently broken down. Sources say that officials from GM and the German government support a Fiat takeover, while Opel officials favor an alliance with Magna.

– By: Omar Rana

Source: AutoWeek