I note from this Financial Times story that Germany may require the Fiat-Opel-Chrysler auto group that Sergio Marchionne is attempting to assemble to be headquartered there.
This is one of the 14 criteria mooted by Frank-Walter Steinmeier, vice-chancellor and foreign minister, for any bidder for Opel – currently the European arm of General Motors – to obtain financial support from the German government.
It sets the scene for what could be an interesting face-off between national governments over the identity of cross-border groups that they have helped to support. The US government, which is providing finance for Chrysler, may well have something to say.
Apart from this, I wonder how Chrysler’s employees and dealers would feel about once again falling under the control of a German company, albeit one with an Italian accent?
Their last experience of such arrangements – DaimlerChrysler – was not exactly an unalloyed success.
