Fiat deal approved

• Source: Global Times
• [00:33 June 11 2009]
• Comments

The US Supreme Court yesterday cleared the way for the sale of Chrysler to Italy’s Fiat, a victory for the Obama administration driving the restructuring of bankrupt Chrysler.

The court denied a request from Indiana pension funds to delay the sale to a group led by Fiat, a union-aligned trust and the US and Canadian governments.

Fiat shares traded 4.1 percent higher at 7.79 euros at 5:45 am.

(Agencies)