FIAT TO UP CHRSYLER STAKE SOON

CHRYSLER is aiming to refinance $7bn (£4.3bn) of US and Canadian government debt by June, clearing the way for Fiat to take a majority stake, the companies’ chief executive Sergio Marchionne (pictured) said yesterday. The US third-largest automaker, controlled by Fiat under a 2009 bailout, must pay back government money before the Italian company can take ownership.