BERLIN — Fiat chief executive Sergio Marchionne pushed his bid for General Motors’ Opel unit in talks Tuesday with German leaders, saying he had lowered his request for government financial help.
Fiat’s rivals in the race for Opel, Canadian auto-parts maker Magna International and U.S. investment firm Ripplewood Holdings, took their case to Opel’s employee council, whose head said Magna was in “pole position.”
Tuesday’s events came ahead of a meeting planned for today at Chancellor Angela Merkel’s office in Berlin, at which Merkel hopes to bring together German and U.S. officials with GM representatives and Opel’s potential suitors as pressure builds for a decision on its future.
U.S. parent GM faces a June 1 deadline to restructure or file for bankruptcy. Germany has pledged bridge financing to keep Opel running. The Associated Press
