Marchionne calls Chrysler-Fiat merger 'inevitable'

Timetable not yet clear, says CEO

Marchionne calls Chrysler-Fiat merger 'inevitable'

Turin, April 9 - Sergio Marchionne said Tuesday that the merger of Fiat with Chrysler is coming, but the timetable is not yet clear. "The merger with Chrysler is inevitable," Marchionne, chief executive officer of both automakers, told a shareholders meeting on Tuesday. However, the timing hasn't yet been worked out, he added. "I hope that by the end of the year we will have more certainty about how to achieve it". Fiat took over Chrysler in 2009 following bankruptcy and turned its fortunes around. It now owns about 60% of Chrysler which these days, thanks to its strong sales in North America, is keeping the company afloat. Marchionne has frequently said that a full merger between Fiat and Chrysler is necessary and repeated Tuesday that this "must be completed" - the difficulty is finding the revenues for Fiat to finalize the transaction. Tuesday, he also ruled out selling Fiat's holdings in the Ferrari brand to finance the Chrysler takeover.

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