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Fiat unveils takeover plan for Opel | Business | Deutsche Welle | 04.05.2009
German Economics Minister Karl-Theodor zu Guttenberg has expressed cautious optimism about Fiat's bid to buy struggling German carmaker, Opel. But, he also said he was open to bids from other suitors.  

On Monday, the head of Fiat met separately with Guttenberg, Chancellor Angela Merkel and Vice-Chancellor Frank-Walter Steinmeier for high-level talks to discuss the Italian automaker's plans for an Opel takeover.

The CEO of Italy's Fiat, Sergio Marchionne, presented an audacious plan at the talks in Berlin to snap up all of US carmaker General Motor's European operations and merge them with bankrupt Chrysler to create a new global auto giant.Fiat CEO Sergio Marchionne's bid for Opel includes all of GM's European operations

Marchionne touted the plan as a "marriage made in heaven."

by Fran on Tue May 5th, 2009 at 01:47:30 PM EST
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