Fiat Eyeing Deal with PSA Peugeot-Citroen as Opel Bid turns bleak
Saturday, June 6th, 2009Fiat is now looking at the direction of French car manufacturer PSA Peugeot Citroen as the negotiation with Germany’s Opel is getting dimmer.
The initial move of the Italian group to get a hold of Chrysler and Opel is seen by analyst as a step to have a global presence. Experts though see the inking of the Chrysler deal as the weakest link in the chain of strategic maneuvers done recently by Fiat.
Sergio Marchionne, CEO of Fiat, forecasts about six automakers to be out of business as the haze of the global credit crunch clears in the future. He foresees only a few European brands surviving the financial crisis. Fiat is aiming to buy out as many car industry players as possible.
The Fiat-Opel deal is among its great desire but sees the tie up with the PSA as a move with a better potential. The “better potential” translates to a combined sale of about 7 million units.