Banks extend Fiat's call option on Fidis - sources

Newswire

MILAN, Dec 27 (Reuters) - Italian banks that bought 51 percent of Fiat's consumer financing arm Fidis have agreed to extend an option for the industrial group to buy back the stake by two years, financial sources said on Monday. The call option is key to Fiat's argument against General Motors which says that the Fidis sale changed the parameters of Fiat Auto and so invalidated an option allowing Fiat to sell its 90 percent of the car unit to GM. Fiat sold the majority of Fidis to ...

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