Fiat has denied its interest in General Motors’ Opel unit for the last several weeks, but the Italian automaker has finally fessed up to its desire for GM’s German brand. A German official first revealed Fiat’s interest in Opel, but CEO Sergio Marchionne has officially confirmed Fiat is pursuing a majority stake in the company.
Marchionne revealed to Italy’s La Stampa newspaper that Fiat is currently in talks with General Motors about the acquisition of the Opel brand. Marchionne even went as far as to call Opel the “perfect partner” for Fiat.
It remains unclear just how big of a stake Fiat is seeking, but GM would likely remain on as a minority stakeholder in Opel. Whatever the case, GM will separate the Opel and Vauxhall brands, keeping Vauxhall brand under the GM umbrella of companies.
GM CEO Fritz Henderson revealed six suitors are currently interested in Opel, but Fiat could be the early frontrunner. GM reportedly prefers the sale of Opel to a single entity, making a joint sale to Canada’s Magna and Russia’s Oleg Deripaska seem less likely.
GM plans to keep Opel talks open until at least the end of the month, with an official announcement likely early next month.
05/01, 11:17 AM
posted by:
mayer_ray_nagin
i hope he resurrects the Eagle brand and we get the Eagle Insignia here!
05/01, 11:18 AM
posted by:
JakeK66
So all the guessing to what brand the Insignia is coming over as – all of us were wrong!!!!
It’s going to be a Chrysler!!! Whodathunk.
05/01, 11:31 AM
posted by:
carstuff
This is interesting. Fiat does not have a midsize platform. Chrysler does not have a decent mid size platform. GM has a brand new excellent FWD/AWD midsize platform. Fiat is merging with Chrysler and maybe taking an interests in Opel. Fiat believes they need to greatly expand to survive in the future.
We may have a 3 way merger sometime in the future.
05/01, 11:37 AM
posted by:
johnnycanuck
Jake, I like it. The Chrysler Whodathunk and its Dodge sibling the Whatdafuk. At last, naming schemes for the perpetually intoxicated.
05/01, 11:39 AM
posted by:
DenverGuy217
Doesn’t that just figure. GM/Opel introduce the Insignia and quickly they have the best selling mid-size car in Europe…and now they’ll have to give it up. When it rains it pours.
Hate to see what it would look like with a Dodge grille
05/01, 11:54 AM
posted by:
Borat
Jake & Johnny, you should patented those! FukenCharmin!
carstuff, FIAT has midsize cars as well as Opel always had for European and World consumption. We are slightly oversized in US, so their midsize are small cars here.
05/01, 12:29 PM
posted by:
carstuff
OK, but my premise is the same. Fiat does not have a midsize platform to share with Chrysler.
We sure can jump the gun here. GM is looking to sell a portion of Opel and most likely less than 50%. It will be a shared company and the Insignia will still be a “GM” vehicle.
05/01, 12:34 PM
posted by:
mayer_ray_nagin
It would be odd to see a Chrysler Whodathunk on the road next to a Buick LaCrosse and know they are 90% the same. That’s extreme badge engineering you can believe in.
05/01, 1:00 PM
posted by:
carstuff
90% the same? Someone again streeeetching.
05/01, 1:23 PM
posted by:
CADDY-V
Fiat is a ho trying to start an auto industry orgy
05/01, 1:53 PM
posted by:
Borat
Since when is an orgy a bad thing? Toga party is a staple of entertainment in most undergraduate and graduate institutions.
05/01, 2:16 PM
posted by:
mayer_ray_nagin
Carstuff go kiss president Obankrupt’s butt and come back here and tell us how sweet you think it tastes.
05/01, 2:53 PM
posted by:
CADDY-V
Borat:
It’s not a bad thing. I just prefer more Playboy and a Hustler merger for that.
05/01, 4:13 PM
posted by:
carstuff
mayer, why would I kiss his butt? Did you need to get him browny points?
05/01, 5:24 PM
posted by:
ricky_b
If true, they would end up with the only decent current portion of General Motors. What GM designs and builds currently in the US is just crap.
05/01, 8:34 PM
posted by:
Ring-Taxi
Finance It Again, Tony.
05/01, 8:38 PM
posted by:
Barry Obama
Opel already uses Fiat diesel engines in the Astra.
This was an obvious and smart move.
05/01, 8:57 PM
posted by:
carstuff
“The companies co-developed the platform that is the basis of the Fiat Grande Punto and the Opel/Vauxhall Corsa small cars, as well as the 1.3-liter diesel engine that powers a number of models produced by the two automakers.”
05/01, 10:57 PM
posted by:
maxcar
if i were fiat, i’d buy opel to complement the lineup, stay clear of chrysler, and use the saturn network of dealers to peddle fiat in the us.
05/02, 1:27 AM
posted by:
zoomzoomer
That Saturn Sky would make a really nice Fiat Spider
05/02, 1:28 AM
posted by:
zoomzoomer
^ Saturn Sky = Opel GT (oops)
05/02, 8:41 PM
posted by:
Barry Obama
Now Americans don’t start thinking Fiat is going to use any of your designs or line-ups.
That is the reason why the cars failed. Leave it to Italians to do future designs.