Fiat denies merger talk, rejects Olivetti overture
Article Abstract:
Fiat SpA announced that it did not have any short-term plans for any major moves. The car maker made the statement despite the consolidation taking place in the automobile industry throughout the world. Giovanni Agnelli, the chairman of Fiat, made clear that the company has no plans for any "big link-ups." Mr. Agnelli also said that IFIL SpA, his family holding firm, will either surrender or sell its Telecom Italia SpA shares if Olivetti SpA acquires the telecommunications group.
Comment:
Announces that it does not have any short-term plans for any major moves
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Fiat feels the pressure to find partner
Article Abstract:
Fiat SpA is experiencing falling domestic car sales and strong competition from emerging markets. For this reason, analysts believe that Fiat will look to establish an alliance in order to reduce its costs. The 1998 DaimlerChrysler merger emphasized the importance of alliances in the automobile industry. Analysts believe that auto makers around the world are faced with excess capacity and dropping prices.
Comment:
Analysts believe that Fiat will look to establish an alliance in order to reduce its costs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Lagardere to float Matra auto unit to focus on media
Article Abstract:
Lagardere SCA acknowledged that it will float its Matra Automobile division in 2001 and work to form partnerships in the media industry. Lagardere is attempting to leave the automotive industry .
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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