Fiat CEO To Meet Italy Government, Unions Once GM Talks Are Clear
May 15 2009 - 10:29AM
Dow Jones News
Fiat SpA (F.MI) is ready to meet with the Italian government and
labor unions to discuss a plan to create one of the world's largest
car companies by merging its auto unit with some key General Motor
Corp. (GM) assets, the government said Friday.
Fiat Chief Executive Sergio Marchionne said in a letter replying
to Industry Minister Claudio Scajola that he's open to hold the
meeting once negotiations with GM are clear, Scajola's office said
in a statement.
The Italian government last week signaled it would continue to
help Fiat as long as the carmaker safeguards jobs at home by
keeping plants open while it seeks to expand internationally.
Fiat plans to retool two plants in Italy as part of a plan to
buy GM's operations in Europe - including Germany's Adam Opel GmbH,
Sweden's Saab and the U.K.'s Vauxhall - as well as those in Latin
America and South Africa, and merge them with its auto unit.
-By Luca Di Leo, Dow Jones Newswires; +39 06 69766921;
luca.dileo@dowjones.com