Fiat interested in Canada’s Chrysler stake: Reuters

Reuters is reporting Fiat SpA would be interested in buying the Canadian’s government stake in Chrysler for a “reasonable price,” but cannot exercise the option at the moment, the chief executive of both companies said.

“Under the current rules we do not have the right to exercise the call option on the Canadian bit,” Marchionne told Reuters on the sidelines of the general meeting of Osec, a company that promotes Swiss trade.

Asked whether he intended to buy Canada’s 1.7 per cent stake in Chrysler, Marchionne said he hadn’t discussed it with the Canadian authorities, but would be interested at a “reasonable price.”

Fiat notified the U.S. Treasury on Friday of its intent to exercise an option to buy the Treasury’s stake in Chrysler, paving the way for the Italian automaker to clinch a majority share in the company by early next month.

“We’re doing everything possible to accelerate the pace and bring about in the shortest possible time the creation of a single group,” Marchionne told the meeting in a speech on ‘The Future of the Automotive Industry.’