The Daily Mail reports that Fiat may consider taking over Vauxhall. Sergio Marchionne, who runs the Italian car maker, said on Monday: ‘If the opportunity were to arise, we would give it a hard look.’
Thousands of jobs have been under threat at ailing Vauxhall’s Ellesmere Port and Luton factories after its US parent company General Motors revealed huge losses.
Although Fiat is in talks to buy US car firm Chrysler, City experts believe Vauxhall and its German sister company Opel could be ‘a better bet’.
Fiat has acquired a majority stake in Vauxhall and Opel
Analysts at investment bank Citigroup said: ‘In our book this is a potentially much more productive deal than Chrysler.
‘We engage more enthusiasm for an Opel than a Chrysler transaction.’ Yesterday, Mr Marchionne refused to rule out Fiat taking control of General Motors’ two European firms.
Instead he admitted to having ‘open dialogues’ with a number of car companies around the world over consolidation, but had ‘nothing to announce’. Full Story…