Italy Government Ready To Support Fiat Expansion Plan If Asked -Min
June 04 2009 - 12:02PM
Dow Jones News
The Italian government is ready to support Fiat SpA's (F.MI)
expansion plan in Europe if asked by the Turin-based company,
Italian Economy Minister Giulio Tremonti said Thursday during an
interview with Italian TV Sky.
"Let's see how the situation develops," Tremonti said when asked
about the possibility of the government helping Fiat in a potential
takeover of German carmaker Adam Opel Gmbh, a unit of U.S. carmaker
General Motors Corp. (GM).
German economics ministry state secretary Jochen Homann Thursday
said the government can't rule out the possible failure of Magna
International Inc.'s (MGA) offer. Last week, Magna was selected by
the German government as the frontrunner for Opel's operations.
Fiat has presented a plan to acquire Opel, as has the U.S.-based
investment group Ripplewood.
-By Sabrina Cohen, Dow Jones Newswires; +39 02 5821 9906;
sabrina.cohen@dowjones.com