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Fiat poised to quit talks with Chrysler
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08:58, April 16, 2009

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Fiat Group CEO Sergio Marchionne is ready to walk away from a proposed alliance with beleaguered Chrysler LLC if the union workers do not make enough concessions, according to a Detroit News report.

Fiat demanded that Chrysler workers put their pay on the same scale as those at U.S. plants owned by foreign car companies.

The U.S. government instructed Chrysler to form a partnership with the Italian automaker by the end of this month as conditions for receiving more federal aid. If Chrysler fails to reach an agreement with Fiat, it may have to file for bankruptcy.

Marchionne said the current union contracts make the chances ofa partnership 50 percent.

Source: Xinhua

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