Fiat finalizes take over of Opel
By admin On Sunday, 26, 2009 | Filed Under Auto News, Fiat, Opel
Italian carmakers Fiat has finalized its stakes in the beleaguered German carmaker Opel, with the letter of intent to be signed towards the end of this month. Though Fiat had made a secret deal to acquire major stake in Opel, it is not a secret now. Opel’s works Council Chairman Klaus Franz has confirmed the Italian carmakers interest. He had also stated that the way has been cleared for signing the letter of intent. With the signing, the Italian carmakers would get the majority stake in Fiat. Though the GM officials in Detroit and government officials in Germany are known to back Fiat's plans to takeover, Officials in Opel seem to be against such a move. It is rumored that they support a partnership with Magna International. Earlier Opel had held talks with Magna internatio...
