Fiat raises stake in Chrysler to 68.49%

Milan-the Italian automaker Fiat said on Monday that it has exercised an option to buy more 3.3 percent of u.s. Unit Chrysler, getting closer to its aim to create the world's seventh largest automaker in sales.
Fiat, which lost money in Europe, said he wants to have control of the profitable Chrysler, which would give it access to part of the cash flow of American investment in new models.
Fiat obtained 20 percent of Chrysler in 2009 and now owns 58.5 percent of the United States, with the right to increase the stake to 75 percent, in a gradual process of three years, until July 2014.
Fiat can buy 16.6 percent of Chrysler in 3.3 percent of Veba, u.s. health company linked to the Steelworkers Union.
With the acquisition of this Monday, Fiat has three of the six monthly options to buy 3.3 percent, raising its stake to 68.49 per cent.
Fiat said that its calculation of the value of the shares is 254.7 million dollars.
A decision of Justice about the price that Fiat will pay for shares is still pending.