Fiat improves bid for General Motors Europe

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BBC Business News is reporting that Italian carmaker Fiat has improved its bid to buy Opel and its UK brand Vauxhall from General Motors.

Germany’s Economy Minister Karl-Theodor zu Guttenberg said that Fiat had provided more detail about capital contributions and risk-sharing.

German government officials are currently discussing at least three rival bids, submitted before Wednesday’s deadline.

Fiat said it would cut fewer than 10,000 jobs if its bid succeeds. Full story…