After previous comments on the personal choice of Fiat CEO Sergio Marchionne, it was revealed that the Fiat CEO has talked to banks on financing a buyout of Chrysler's stake in the company. According to Marchionne, "We have met with banks to discuss financing for Fiat's planned buyout of the remaining stake in Chrysler the Italian company does not own."
He said that he found that many banks are willing to help out with the plan. Currently Fiat owns 58.5% of Chrysler.
On another note, Marchionne said that Fiat is considering the creation of a low cost brand and the distribution network for this specific brand. There are still no formalities as to the building a low cost brand if and when the company pursues this plan.
He previously remarked that he prefers the Chrysler brand be fully merged with Fiat. He said, "My preference is to be one single company. We belong together."
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