MaxxMPG
05-03-2009, 08:18 PM
http://www.cleanmpg.com/photos/data/2/European_Union_Flag.jpg The Fiat chief's overtures toward Opel and the German government could prove as tricky as his drawn-out pursuit of Chrysler.
(http://online.wsj.com/article/SB124138863877481269.html)
http://www.cleanmpg.com/photos/data/501/marchionne.jpgStacy Merichtry - Wall Street Journal - May 4, 2009
Marchionne thinks he can fix more than Chrysler?? -- Ed.
Rome - Fiat SpA Chief Executive Sergio Marchionne is stepping up his plan to acquire a majority stake in General Motors (http://online.wsj.com/public/quotes/main.html?type=djn&symbol=gm) Corp.'s German unit Opel, the next phase of his ambitious campaign to forge one of the world's biggest auto makers by crafting a three-way alliance among Fiat, Chrysler and Opel.
Mr. Marchionne is expected to meet senior German government officials in Berlin on Monday, according to people familiar with the matter, in an attempt to get support for a potential alliance with Opel. Mr. Marchionne signed a partnership with Chrysler LLC in Washington last week.
Fiat's board of directors met Sunday and authorized Mr. Marchionne to seek a potential merger between Fiat and GM's European operations, including Opel and its U.K. unit Vauxhall, according to a statement issued by Fiat on Sunday. If a deal is reached, Fiat will consider creating a new publicly traded company that combines the auto maker's car unit, Fiat Group Automobiles, with GM's European operations, the statement said. The three-way alliance is expected to generate €80 billion ($105.84 billion) in revenue a year... http://online.wsj.com/article/SB124138863877481269.html
"Fiat SpA Chief Executive Sergio Marchionne is stepping up his plan to acquire a majority stake in General Motors Corp.'s German unit Opel, the next phase of his ambitious campaign to forge one of the world's biggest auto makers by crafting a three-way alliance among Fiat, Chrysler and Opel."
online.wsj.com/article/SB124138863877481269.html
Since my Chevy Maxx is a bowtie'd Opel Signum, I may be able to get my parts from a Chrysler dealer in the future. Who'd a thunk it?!
Fiat already had a deal with GM (GM gets their 2.9L diesel for European Opels and they get GM's platforms for Alfa cars), and the deal fizzled, with GM paying Fiat over a billion to get out of the deal. But now, I think Fiat is looking at that share of Opel because of all the engineering talent. And because of the original GM deal, they already have some familiarity with the Opel brand. If Fiat decides to take on GM Europe and Chrysler in North America concurrently, it will be either a brilliant use of timing to become a huge automaker or a spectacular failure for the history books.
(http://online.wsj.com/article/SB124138863877481269.html)
http://www.cleanmpg.com/photos/data/501/marchionne.jpgStacy Merichtry - Wall Street Journal - May 4, 2009
Marchionne thinks he can fix more than Chrysler?? -- Ed.
Rome - Fiat SpA Chief Executive Sergio Marchionne is stepping up his plan to acquire a majority stake in General Motors (http://online.wsj.com/public/quotes/main.html?type=djn&symbol=gm) Corp.'s German unit Opel, the next phase of his ambitious campaign to forge one of the world's biggest auto makers by crafting a three-way alliance among Fiat, Chrysler and Opel.
Mr. Marchionne is expected to meet senior German government officials in Berlin on Monday, according to people familiar with the matter, in an attempt to get support for a potential alliance with Opel. Mr. Marchionne signed a partnership with Chrysler LLC in Washington last week.
Fiat's board of directors met Sunday and authorized Mr. Marchionne to seek a potential merger between Fiat and GM's European operations, including Opel and its U.K. unit Vauxhall, according to a statement issued by Fiat on Sunday. If a deal is reached, Fiat will consider creating a new publicly traded company that combines the auto maker's car unit, Fiat Group Automobiles, with GM's European operations, the statement said. The three-way alliance is expected to generate €80 billion ($105.84 billion) in revenue a year... http://online.wsj.com/article/SB124138863877481269.html
"Fiat SpA Chief Executive Sergio Marchionne is stepping up his plan to acquire a majority stake in General Motors Corp.'s German unit Opel, the next phase of his ambitious campaign to forge one of the world's biggest auto makers by crafting a three-way alliance among Fiat, Chrysler and Opel."
online.wsj.com/article/SB124138863877481269.html
Since my Chevy Maxx is a bowtie'd Opel Signum, I may be able to get my parts from a Chrysler dealer in the future. Who'd a thunk it?!
Fiat already had a deal with GM (GM gets their 2.9L diesel for European Opels and they get GM's platforms for Alfa cars), and the deal fizzled, with GM paying Fiat over a billion to get out of the deal. But now, I think Fiat is looking at that share of Opel because of all the engineering talent. And because of the original GM deal, they already have some familiarity with the Opel brand. If Fiat decides to take on GM Europe and Chrysler in North America concurrently, it will be either a brilliant use of timing to become a huge automaker or a spectacular failure for the history books.