Report: Fiat plans to buy remaining stock in Chrysler

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Chrysler-Fiat President and CEO Sergio Marchionne announced that the Italian automaker is negotiating with representatives of the UAW's VEBA health benefits organization to buy the 41.5% share in Chrysler it doesn't already own.

Apparently, Chrysler-Fiat has all the necessary funds, which financial experts estimate at $3.5-$4 billion.

Marchionne would like to merge the two manufacturers in hopes of becoming the world's seventh-largest automaker in terms of sales. This would also allow Fiat to use Chrysler's capital to compensate for losses in the European market.

Source: The Detroit Bureau