Where next for industrial consolidation?
Global automobile production remains inexplicably high, but profit has not followed suit. Many observers believe that the auto industry has to confront another round of consolidation. There is speculation that events at Fiat could herald a new wave. Fiat's debt has gone close to the status of junk bonds as the financial crisis at its carmaking division, Fiat Auto, has accelerated. Rob Golding reviews developments.
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