Sollers Ends Negotiations with Fiat Group for Joint Venture in Russia, Then Signs Deal with Ford
Friday, February 18, 2011
Italian automaker Fiat SpA and Russia's Sollers OJSC, backed out of a potential partnership today following the signing of a Memorandum of Understanding (MoU) in February 2010 for the launch of a Russian joint-venture to produce passenger cars and SUVs. Fiat, which controls US automaker Chrysler, and Sollers did not give any explanation for the breakup of negotiations, with both companies
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