TURIN -- Fiat S.p.A. submitted two versions of its offer for General Motors units Opel and Vauxhall, one with and one without a bid for GM's Latin American operations, people familiar with the matter told Automotive News Europe today.
The offers were submitted Wednesday to Dresdner Kleinworth, an arm of the German bank Commerzbank AG.
Fiat, which also wants Saab, said it did not include GM's Swedish brand in its Opel bid because its sale is part of a separate process. Fiat declined to comment on the specifics of its offer for Opel and Vauxhall.
Dresdner Kleinworth has sent the offer to the German government and GM.
German press reports said that Magna International and Belgium-based holding company RHJ International also have submitted bids for Opel.
Fiat CEO Sergio Marchionne told Italian newspaper La Stampa in a story published today that his company's bid has more than a 50 percent chance of succeeding.
"Our offer is the only one with industrial content and value," Marchionne is quoted in the paper as saying. La Stampa also quoted the Fiat chief as saying labor union chiefs may prefer the other bids because "they think they could condition executives more experienced in finance than in industry."