Obama auto team still undecided on Chrysler-Fiat deal - by Gordon Trowbridge and David Shepardson
The Obama Administration hasn't decided whether to approve a tie-up between Chrysler LLC and Fiat SpA, a top government adviser on the auto industry said Monday. In a telephone interview with The Detroit News this morning, Steven Rattner said the administration was still reviewing a proposed deal to give Fiat a 35 percent stake in Chrysler LLC. "We need to understand better where Fiat is at and whether that is potentially a realistic deal or not before we know where to go next on that one," Rattner said.
Cerberus Capital Management LP, a New York private equity firm, owns 80.1 percent of Chrysler and has declined to infuse any addition money into the Auburn Hills automaker. "It doesn't necessarily have to be an investment that Warren Buffet would make, but it has to be a prudent use of taxpayer money," Rattner said.
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