Fiat restructure takes shape

The original Fiat restructuring plan, hammered out last year with creditor banks, is “taking shape” while entrepeneur Roberto Colaninno's rival plan appears to be on the backburner, according to a Reuters report today.

The banks are set to progress the plan with a meeting today. Meanwhile, although Colaninno's plan is currently not on the table, the entrepeneur has been giving more detail of his offering in an interview in la Repubblica newspaper. In it, he states he is willing to accept a slightly smaller stake than the Agnellis in the buy-out.

“But since I'm the one putting in the money, I want to be Fiat's chief executive,” he told the newspaper.