Fiat improves bid for GM’s Opel

By doris | Published: May 24, 2009

Full Story Atnews.bbc.co.ukl

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.

Three bidders

Rival bidders include Canadian car parts maker Magna and RHJ International, a Brussels-based investment firm.

The Italian carmaker said last week the cuts would be made across Opel’s Europe-wide operations, which currently employ about 50,000.

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