Jump to content
Create New...
  • William Maley
    William Maley

    Rumorpile: Did Fiat's CEO Propose An Alliance Between Them, Opel, and PSA?

    William Maley

    Staff Writer - CheersandGears.com

    October 31, 2012

    Bloomberg is reporting that earlier this month, Fiat CEO Sergio Marchionne sat down with PSA-Peugeot/Citroen GM earlier this month about creating an alliance that would become the largest automaker in the region.

    Marchionne's proposal was to have the three companies form an alliance in exchange for stock. Marchionne also had another proposal on the table where Fiat would take Opel off GM's hands if the company was given between $5 to $7 billion in cash for restructuring costs.

    PSA-Peugeot/Citroen passed on the alliance because it favors its partnership with GM. Also, if PSA-Peugeot/Citroen went ahead with this idea, this would have complicated a $9.1 billion guarantee from the French government.

    “It’s an indication that it’s getting increasingly difficult, especially for the southern European carmakers. Marchionne seems to be afraid to go under in the wave of joint ventures in Europe,” said Frank Schwope, an analyst with Norddeutsche Landesbank Girozentrale.

    “Don’t read anything into having a coffee at the bar. There are other things than combinations and mergers that people talk about from time to time,” said Marchionne when asked about this.

    General Motors and PSA-Peugot/Citroen declined to comment.

    Source: Bloomberg

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    Marchionne seems to be keen on stopping VW juggernaut and one up Winterkorn. GM should not burn its hands twice with FIAT, once is enough.

    Totally agree, Fiat screwed the Pooch once and never again. After all the US and GM has done, time to move forward with other companies that are actually set on being honorable.

    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • I hate to say stuff like this, but you can profile people fairly easily.  A certain emboldened member with a smaller view of the world used to get on my case about this.  Go see the world and learn to make inferences.  At any rate, I was boarding a plane in Jacksonville and, in front of me, was a guy with a baseball cap and all I could see was the rear camo effect.  When he got up, I saw Trump 2024.  I felt like saying something to him, along the lines of how is it that the most conservative people support the most depraved individual.  I thought I should skip it since I didn't want to end up in an argument and on a "do not fly" list for some airline.  He was white with salt and pepper hair but had that Charles Bronson brow.  So, you know ... ex-military, high paying trades, utilities, government job ... or alligator trapper.  For all these so-called conservative people, we've never had a first lady (lower case in her case) where you're a k**t hair away from seeing the R/X rated stuff.  I'm originally from SoCal and NOTHING shocks me, but that and the whole circus of everyone involved - extended family, loyal friends - is over the line for me for the job at hand. Houston is not my favorite place.  However, I handle it much better than Dallas or San Antonio, which don't interest me.  I don't like their interior location and the brushy looking mesquite.  Houston has a distinct and attractive downtown.  There's the Space Center.  There are the museums, of which MFAH is free one day of the week.  There's Galveston, and even if the not the nicest beach, water can be so therapeutic, just watching the cruise ships or freight ships come and go.  Lastly, there are some beautiful neighborhoods, with newer homes in the darker red brick, completely hidden in a pine canopy, which is never the case in other big Texas cities.  It reminds of Atlanta, which I very much liked.  So, between that, and the welcoming and freewheeling people, I can hang in H-town for a while and find new indie coffeehouses and eateries.  There's so much food and it's easy to gain weight there.  I agree ... I hate Orlando FL ... a bad knock-off of Las Vegas and Las Vegas is already bad. I've never been to Hawai'i and Alaska.  I'm not so sure I'm interested.  If I have to fly that far, I'll just cross a pond.  I also have an issue with Hawaiians since some of the locals of Samoan stock have issues with haolis, having heard this from white folks I knew who wanted to move there and then came back because of the passive-aggressive discrimination.  The only states are a cluster in the middle in which I have never set foot and it's not that pressing for me - ND, SD, Nebraska, and Montana.  So, I'm at 44 of them and that's good enough for now.
    • Watching "The Hunger Games" why do I feel we are going down a dark path?
    • The question I am hearing from more and more Americans: "Can we RECALL the President and VP?" Sadly, NO is the answer. It would take a motion to add to our constitution to allow a recall of the folks as even the Senate and House members are protected with no way to recall them either.  Interesting is that most states have in their constitution the ability to recall state politicians including the Governor that has happened in a few states over the last Century. Most recent was California.
  • Who's Online (See full list)

    • There are no registered users currently online
  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search