Obama confirms Chrylser bankruptcy, Fiat deal

Newswire

WASHINGTON, April 30 (Reuters) - U.S. President Barack Obama confirmed on Thursday that auto maker Chrysler LLC would go into Chapter 11 bankruptcy and enter a deal with Italy's Fiat to survive. "Today I am pleased to announce that Chrysler and Fiat have formed a partnership that has a strong chance of success," Obama said. He said the bankruptcy process would be quick and efficient and expressed confidence Chrysler would emerge from the process stronger and more competitive. ...

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