Fiat (FIATY, quote) exercised options to buy additional 3.3% of Chrysler. Fiat now owns 68% of Chrysler which remains its most profitable unit. It is my view that Fiat will not need to issue new shares to finance its Chrysler acquisition from VEBA.
Fiat is a major emerging markets player with market share that dominates in Latin America and Eastern Europe.
Fiat is going higher…along with global autos. The day they can take the cash burn out of Europe is the day the company will finally re-rate in line with peers.