GM-Fiat Deal

[Kevin.FILLIP@domain.elided]

     >Here's part of the news release:
     
     
     TURIN, Italy (AP) -- General Motors Corp., the world's largest 
     automaker, is taking a 20 percent stake in Italy's Fiat SPA in 
     exchange for $2.4 billion in stock -- equivalent to 5.1 percent of GM.
     
     The partnership announced today was expected to open up international 
     markets for both automakers.
     
     In a statement, the companies said the partnership would focus on 
     Europe and Latin America. They expect annual savings to
     reach $2 billion within the next five years.
     
     The deal covers Fiat's Alfa Romeo and Lancia brands. It does not 
     include Fiat's other companies, Ferrari and Maserati. The
     deal will include joint ventures in purchasing, engine development and 
     auto financing.
     
     As part of the agreement, the Detroit-based GM has the first right to 
     bid on the rest of Fiat Auto if Fiat decides to sell in the
     future.
     
     The deal is subject to approval by U.S. and European Union regulators.
     
     The alliance has already received the blessing of the country's major 
     union confederation, CGIL.
     
     >I just had a horrible vision of the 2001 Sedan de Ville wearing a 166 
     front end. Lordy save us.....
     
     Kevin (I've never owned nor wanted a car from the General) Fillip
     Dallas, TX
     
     '91 164
     '91 Spider Veloce
     '91 Spider

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