Fiat boss Sergio Marchionne has warned Chrysler that it will pull out of the proposed partnership between the two car makers unless the North American company’s unions agree to labour cost cuts by the end of the month.
The Italian Fiat has proposed buying 20% of the troubled US automotive giant, though its ownership could rise up to 49% if Chrysler start releasing new models based on Fiats. However, in an interview with the Globe and Mail, Marchionne said the deal has now only a “50-50” chance of going through due to lack…
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