- auto industry - Fiat - Germany - GM - Italy
AFP - Fiat on Wednesday made a formal offer to take over Germany's Opel and Britain's Vauxhall, two European subsidiaries of US auto giant General Motors, a spokesman for the Italian company told AFP.
"We have made our offer. It concerns the activities of Opel and Vauxhall. If the deal goes ahead, it will create a new company including Fiat Group Auto, its stake in Chrysler and Opel/Vauxhall," the spokesman said.
The Fiat spokesman did not add further details but added that Fiat was also interested in GM's Swedish unit Saab but that "that is a separate negotiation."
Bids for Opel were to be presented by 6 pm (1600 GMT) on Wednesday under a deadline set by the German government, which has promised loan guarantees for investors.