ASSOCIATED PRESS Enlarge
TURIN, Italy — Fiat and Chrysler Chief Executive Officer Sergio Marchionne said Monday the Italian automaker will increase its stake in Chrysler by 5 percent in days.
Fiat SpA already controls 25 percent of Chrysler Group LLC, Detroit’s third-largest automaker.
Mr. Marchionne said a few details need to be worked out, according to the ANSA and LaPresse news agencies.
Mr. Marchionne said the increase might be finalized as early as Tuesday, according to ANSA. He was speaking during the presentation of Jeep vehicles near Turin.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.