F&I Management & Training

Fiat could be on the verge of making a bid for Vauxhall/Opel, the European arm of ailing US-based carmaker General Motors. However, Fiat, which is continuing to hold talks with rival struggling US carmaker Chrysler on a potential partnership, has played down speculation that it is interested in buying Vauxhall/Opel or part of it. However, German authorities and a supervisory board member insisted that the Italian group had made contact. A Fiat spokesman said the company remained focused on continuing joint venture talks with Chrysler. It has also been reported that Canadian car parts giant Magna International is interested in acquiring Vauxhall/Opel. It is believed there are up to seven organisations chasing a stake in GM's European businesses. Meanwhile, Business Secretary Lord Mandelson has voiced his confidence over the future of Vauxhall as talks continue over its future. He said: "The Government has a role to play. We are not going to stand by and let chance and fate take over. There is too much at stake for production and employees in Britain."

DATED: 27.04.09

FEED: AW