Fiat CEO has confirmed that the Italian automaker is looking to form an alliance with General Motors’ Opel.
“Now we have to concentrate on Opel. They are our perfect partner,” CEO Sergio Marchionne told a Fiat-owned newspaper La Stampa.
According to Automotive News, Italian and German unions oppose to the deal fearing an alliance would lead to massive job cuts. There is also interest in Opel from Austrian-Canadian supplier Magna International.
Yesterday, Fiat wrapped up a deal with Chrysler LLC that give the Italian company 20 percent stake in the U.S. automaker. It will later increase its stake to 35 percent.
– By: Omar Rana