Fiat may abandon Chrysler deal
2009-04-15 13:59
Milan - Fiat's chief executive said he is ready to abandon plans to form a partnership with Chrysler LLC if the US car maker's unions refused to accept substantial cost cuts, according to a newspaper.
"Absolutely we are prepared to walk," Sergio Marchionne said in an interview published on the website of Canada's Globe and Mail on Wednesday.
"We cannot commit to this organisation unless we see light at the end of the tunnel."
Marchionne said he saw only a 50-50 chance of the partnership being formed due to the lack of progress on labour negotiations, especially on the side of the Canadian unions.
Fiat confirmed the comments made by Marchionne to the newspaper.