Fiat’s bid for GM’s Vauxhall (UK) and Opel

We all thought that the deal with Fiat (BIT:F) and GM (NYSE:GM) was not going to go through, for its bid on Opel and its UK brand Vauxhall, but Fiat have since improved their offer. The new offer is now starting to look more attractive for owners, General Motors.

BBC News reports that Minister Karl-Theodor zu Guttenberg, Germany’s economy minister has said that Fiat has now provided more details about the risk-sharing as well as the capital contributions. There are now three rival bids, which German government officials are now in the process of discussing.

Fiat has said that they would only cut less than 10,000 jobs if they were successful with their bids. Two of the rival bidders include Magna, a Canadian car parts maker and RHJ International, a Brussels-based investment firm.