Fiat Losing In Europe, Wants To Bite Off More From Lucrative Chrysler

Italian carmaker Fiat SpA (BIT:F) (OTCMKTS:FIATY) said on Monday it has exercised an option to buy 3.3 percent more of its U.S. unit Chrysler, bringing it a step nearer to its goal of creating the world’s seventh-largest automaker by sales. Fiat moved to tighten its control of Chrysler  as Chief Executive Officer Sergio Marchionne looks to complete a four-year effort to merge the Italian and American automakers. Disputes on Valuation Methods Fiat, which loses money in Europe, has said it wants full control of profitable Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models….