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Fiat to up its Chrysler stake to 35 percent

TURIN, Italy (DPA) ― Fiat intends to increase by 10 percent its current 25 percent controlling interest in U.S. carmaker Chrysler, the chief executive of both companies, Sergio Marchionne, said Wednesday.

“We will soon bring our stake in Chrysler to 35 percent, Marchionne said during a Fiat shareholders’ meeting at the Italian company’s Turin headquarters, indicating the move would happen soon.

Figures released in January by the Detroit, Michigan-based Chrysler showed the company had lost $199 million in the final quarter of 2010, bringing its full-year losses to $652 million. In 2009 the company had lost $8 billion.

Some analysts have however forecast Chrysler’s return to the black this year.
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