Italy Fiat Will not Give up US Chrysler

„Fiat will never walk away from its deal to buy Chrysler, even if a June 15 deadline is missed", a spokesperson said. Photo by BGNES

The Italian Fiat will continue to pursue its deal with Chrysler LLC despite a temporary delay in the US carmaker's bankruptcy proceedings.

This was confirmed Tuesday by a spokesperson on behalf of Fiat's CEO, Sergio Marchionne, the Wall Street Journal reported.

„Fiat will never walk away from its deal to buy Chrysler, even if a June 15 deadline is missed", the spokesperson said.

The future of Chrysler may be in jeopardy after the US Supreme Court Monday delayed the automaker's sale to Fiat at the request of several Indiana pension funds and consumer groups opposed to the transaction.

Justice Ruth Bader Ginsburg gave no indication of how long the case would be frozen or whether all nine justices would hear it. That means the ruling could be monumental, or the court simply wants a little more time to review the case.

 

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