Fiat hunting GM Europe

Despite linking with Chrysler, the Italian company is still going after General Motors Europe.

The Opel-based operation is one of the GM divisions up for sale as the American giant moves on its own re-structuring and Fiat believes it could be rolled into one giant car conglomerate.

It believes the combined company could generate annual incomes of more than $150 billion.

No-one is sure how this will work, although Fiat says it will evaluate a variety of corporate structures, including one which would spin-off Fiat Group Automobiles to allow a merger with GM Europe.