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Fiat shares halted amid reports of Chrysler deal

Fiat shares halted amid reports of Chrysler deal
AP
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First Published: Tue, Jan 20 2009. 03 02 PM IST
Updated: Tue, Jan 20 2009. 03 02 PM IST
Rome: Italy’s stock exchange suspended trading in Fiat shares early today after reports surfaced of a possible partnership with US carmaker Chrysler.
As the Milan stock exchange opened, the Borsa Italiana said on its Web site that it had suspended trading in Fiat shares pending a statement by the company.
Media reported that the Turin-based automaker could take a stake in Chrysler. Unnamed officials familiar with the discussions told The Wall Street Journal and Automotive News that under the possible deal Chrysler would have access to Fiat’s engine and transmission technology.
Chrysler spokeswoman Lori McTavish said in a statement on Monday: “In today’s economic environment, talks are going on between companies in all industries ours is no different.”
Fiat didn’t immediately comment but the company has expressed interest in bringing its Fiat 500 compact car and the Alfa Romeo brand to the US market.
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First Published: Tue, Jan 20 2009. 03 02 PM IST