Fiat hopes to resolve before a December deadline its differences with partner General Motors over an option to sell GM the rest of car arm Fiat Auto, Fiat CEO Giuseppe Morchio reportedly said on Wednesday.
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“We have until December 15 to resolve the issue. We all hope to finish earlier. Our position is that the put has a value,” Morchio told Reuters at the Geneva motor show, though he declined to comment on reports that Fiat might seek €1billion in return for agreeing to drop the option.
“I don’t think it is a good idea to talk about the value of the put now because it is an open discussion that we have time to resolve,” Morchio reportedly said.
Reuters noted that GM has contested the validity of the option.
