Fiat improves bid for General Motors Europe

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…

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