Fiat, GM agree to delay Fiat Auto option by 1 yr

ROME, Oct 26 (Reuters) - Fiat <FIA.MI> and General Motors Corp <GM.N> said
on Sunday they had agreed to delay by one year the start date of an option
held by the Italian group to sell the remainder of its car arm to GM.

GM and Fiat said in a joint statement that the U.S. company had alleged that
the sale of assets of the financing business of Fiat Auto violated the put
deal while Fiat said it had not breached the option and considered it still
effective. "The first agreement shifts the put period by one year, from
January 24, 2004 to July 24, 2009 of the Master Agreement, to January 24,
2005 to July 24, 2010," the statement said.

"The second agreement precludes the parties from initiating legal
proceedings relating to the Master Agreement until December 15, 2004, while
preserving their respective rights."

Coma irreversibile: compreresti la Panda nuova? No!