Auto Industry
Industry: Email Alert RSS FeedFiat says doesn't intend to use 'put'
Automotive Industries, July, 2003
Fiat says it is not planning to use its put option, which would force GM to buy its Fiat Auto division. Instead it will continue to attempt to turnaround the suffering division, the company said in a filing to government agency.
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"Fiat views the exercise for the put only as a secondary possibility," the company said in the statement The two companies currently have differing 'views of the put option--Fiat says it is still valid, GM says it may be no longer be enforceable.
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