ITALY: Minister denies imminent Fiat sale – report
Italian industry minister Antonio Marzano said today Wednesday that Fiat did not expect to sell its loss-making car business, despite having an option to sell the unit to General Motors Corp from 2004, according to Reuters. “As far as I know, it is not immediate and it is not even on the horizon. For the time being, the government hopes that such an important company remains Italian,” Marzano told reporters, according to Reuters.
Italian industry minister Antonio Marzano said today Wednesday that Fiat did not expect to sell its loss-making car business, despite having an option to sell the unit to General Motors Corp from 2004, according to Reuters.
“As far as I know, it is not immediate and it is not even on the horizon. For the time being, the government hopes that such an important company remains Italian,” Marzano told reporters, according to Reuters.
Fiat is expected today to make an announcement affecting around 6,000 jobs, according to reports in European press.
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