Once-Struggling Fiat Could Become No. 3 World Automaker With GM, Chrysler Deals

  Fiat has cut a deal to take over management of Chrysler, the bankrupt U.S. automaker. It is expected to acquire a 20 percent equity stake that could lead to majority ownership in a few years.

Fiat is also negotiating with ailing General Motors to absorb GM's European and Latin American operations. If successful, Fiat will oversee a new company with the capacity to build almost 6 million cars a year -- triple what Fiat produced last year.

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