The Fiat Group has announced that it will wait until the second of February for automaker General Motors to decide whether or not to buy the struggling Fiat Auto division. The sale is an option for Fiat, as per its agreement with GM.
Mediation talks between the two companies are set to finish by the 1st of Feb., having started on the 16th of December. The Fiat group owns 90% of Fiat Auto, and has the option to sell it right up until 2010.
This sales clause was put in an agreement signed by the two companies when both were doing well financially.
