Canada open to selling Chrysler stake to Fiat

Canada is open to selling its 1.7 per cent stake in Chrysler directly to Italy’s Fiat, but will wait to see what price the US government gets for its shares in the automaker before deciding, Canada’s finance minister Jim Flaherty said yesterday. Fiat took operational control of Chrysler as part of the Detroit-based automaker’s US and Canadian-backed bankruptcy restructuring in 2009. It is in the process of exercising an option to buy the US Treasury’s six per cent stake and the two sides are negotiating a purchasing price.