Fiat announced this week that it has exercised an option to buy another 3.3 percent of U.S. automaker Chrysler, bringing its total amount of shares in the company to 68.49 percent. Including this latest purchase, Fiat has exercised three of its six-monthly options.
The transaction is part of CEO Sergio Marchionne’s step-by-step purchases that are aimed at taking full control of Chrysler and creating a merged company in order to compete better with industry giants such as Toyota, GM and VW. Fiat also wants full control of Chrysler, as this would give it access to some of the latter's cash flow for investments in new models.
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