Re: Hope of Fiat avoiding GM buyout

["John Burrows" <jburrows@xxxxxxxxxxxxx>]

FIAT disagrees with GM:

http://europe.autonews.com/news.cms?newsId=4399

"The Financial Times had quoted Fiat CEO Giuseppe Morchio as telling
investors that GM believed legal problems made its promise to buy Fiat
Auto from 2004 invalid, although Morchio believed the put option was
enforceable.

"The put is a right that begins in 2004 and is valid until 2009,"
Morchio said in a statement. "I never made comments about GM's position
regarding the put."

Fiat shares lost almost 3 percent on fears it could lose the "put"
option to sell its 80-percent stake in Fiat Auto, whose deep losses have
dragged the industrial group into the red and forced three restructuring
plans in a year. "

I can't say I'm very excited about the other rumor of VW buying a
combined Ferrari/Maserati/Alfa Romeo group.  I'll just continue to enjoy
my 115.01.

Cheers,
John
Seattle, WA

'73 115.01
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