Fiat-Chrysler CEO says shareholders backing of merger is 'huge step ahead'

RIMINI Italy Sat Aug 30, 2014 7:13am EDT

Fiat Chrysler Chief Executive Sergio Marchionne gives opening remarks during the FCA Investors Day at Chrysler World Headquarters in Auburn Hills, Michigan May 6, 2014.  REUTERS/Rebecca Cook

Fiat Chrysler Chief Executive Sergio Marchionne gives opening remarks during the FCA Investors Day at Chrysler World Headquarters in Auburn Hills, Michigan May 6, 2014.

Credit: Reuters/Rebecca Cook

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RIMINI Italy (Reuters) - The fact that most Fiat shareholders chose not to exercise an option that could derail a merger with its U.S. unit Chrysler is a "huge step ahead" for the car maker, Fiat and Chrysler Sergio Marchionne said on Saturday.

Fiat signaled on Friday the merger would go ahead as not enough dissenting shareholders had decided to tender their shares for the tie-up to fail.

Marchionne also reiterated the carmaker had no plans to close any of its plants in Italy.

(Reporting by Paolo Biondi, writing by Silvia Aloisi)

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Comments (1)
antonio31111 wrote:
FCA is going to turn the automotive industry upside down! Fiat & Chrysler are making the best vehicles the industry has ever seen with better quality than EVER before! Looking forward to see VW & Toyota losing millions of sales to Emerging FCA automotive!

Aug 31, 2014 6:04am EDT  --  Report as abuse
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