Fiat chief executive Giuseppe Morchio reportedly said on Friday that a disagreement with General Motors over an option which it could force it to buy Fiat’s auto business would not affect their joint ventures.

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According to Reuters, when asked about media reports that Fiat could dissolve its joint venture with GM in powertrains in exchange for cancelling the put option, Morchio said: “It absolutely does not change our joint ventures from our point of view.”


“Last year synergies from the jvs totalled €600 million each and we confirm that should rise to €1 billion in 2006,” he reportedly added.

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