Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, February 7, 2011

Italian ministers to quiz Fiat chief on U.S. plans, (FIA)

The Italian government will tackle Fiat (FIA.MI) boss Sergio Marchionne over suggestions that he wants to move the carmaker's headquarters to the United States after merging with Chrysler, a minister said on Monday. Marchionne aims to merge Italy's main industrial group and Chrysler in two or three years after a deep restructuring. He suggested at an industry conference on Friday that the new company could be based in the United States. [ID:nN04207716] This sparked outrage in Italy, where Marchionne is pushing through a contested labour deal as part of a project to invest 20 billion euros ($27.18 billion) to boost productivity at its loss-making Italian car plants.

Source