MILAN — Fiat took a big step Wednesday towards the dream of its ambitious chief Sergio Marchionne to become a global megagroup with board approval for a spinoff of its non-car activities.
The maverick chief executive is seen to be positioning the group to join the fray as major world automakers seek new alliances, a year and a half after orchestrating a hook-up with near-bankrupt US automaker Chrysler.
"It will be easier for Fiat to merge with other companies, and the first that comes to mind obviously is Chrysler," said Umberto Bertele, chairman of Milan Politechnic's business school, of the restructuring....
AFP: Fiat takes major step towards global megagroup
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