Fiat's new leader keeps window on mergers open

Article Abstract:

Fiat SpA Chairman Paolo Fresco said the Italian company is open to mergers if there are such opportunities. According to reports, the company's possible merger partners include Renault SA, Bayerische Motoren Werke AG, Hyundai Motors Co. and Kia Motors Corp. Fresco, who replaced the retiring Chairman Cesare Romiti, will work at Fiat only part time until he quits his duties as vice president of General Electric Co. of the US in mid-October 1998. Fresco hopes to boost Fiat's profits by continuing its existing strategy of adding value to its products.

Comment:

Chairman Paolo Fresco says the Italian company is open to mergers if there are such opportunities

Italy, Strategy & planning, Farm Machinery and Equipment Manufacturing, Farm Machinery, Agricultural equipment, Fiat S.p.A.

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Telecom Italia abandons plans to buy C&W stakes

Article Abstract:

Telecom Italia SpA will not proceed with its plan to buy minority shareholdings in several Cable & Wireless PLC's telecommunications operations. The deals, announced by the two firms in April 1998 as part of a strategic alliance, included the acquisition of a 20%-stake in Boygues Telecom of France, a 20%-stake of Cable & Wireless' business in the West Indies and 5% of its US division, for up to $2 billion. Critics of the proposed alliance have argued that there is very little benefit to be derived from the agreement.

Comment:

Will not proceed with its plan to buy minority shareholdings in several Cable & Wireless PLC's telecommunications operations

United Kingdom, Asset sales & divestitures, Acquisitions & mergers, Telecommunications, Wired Telecommunications Carriers, Telephone Communications, Telecommunications industry, Telephone services, Telecom Italia S.p.A., Cable & Wireless PLC

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