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Marchionne Still Dreaming about Opel

Just as we said today, Fiat is still interested in purchasing Opel, despite that Magna International has already sealed a deal with the German government and GM Europe. Well, the news was confirmed today by Fiat CEO Sergio Marchionne who said that the Italian manufacturer might still takeover the German brand but it all depends on the course of negotiations between Magna and GM Europe.

"The interest is still there, it doesn't depend on us," Marchionne was quoted as saying by Autonews. "We will see. Our Friday (May 29) statement was absolutely clear: we remain interested," he added. A separate report earlier this day claimed Fiat is getting ready to submit a new proposal for Opel.

A German official yesterday confirmed that while the country is negotiating the deal with Magna International, other parties are still revealing their interest in the German brand. Furthermore, BAIC representatives recently travelled to Germany to talk about a potential agreement, with sources indicating that in case negotiations with Magna fail, Fiat and Chinese investors become favorite for an acquisition.

"The process is still open to all the bidders," government spokesman Ulrich Wilhelm told reporters in Berlin according to a report by Autonews.

On the other hand, Magna International is desperate to complete the acquisition, with all those involved in the process expected to give their final signing by September.

"We think that we will be finished in the next four, five weeks and then there's the final signing," Magna co-Chief Executive Siegfried Wolf was quoted as saying by the aforementioned source. "After the signing, all approvals have to be given, and I think that we can expect a closing in September, end-September."
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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