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Colaninno plans talks on Fiat rescue bid.
(From FT Investor (Stories))
Roberto Colaninno (pictured), former head of Telecom Italia, is expected to make contact in coming days with leading participants in the crisis at Fiat, the Italian car manufacturer, to explore the option of taking a controlling stake in the Fiat Spa parent company.
Under the latest rescue plan proposed for Fiat, Italy's largest industrial group, Mr Colaninno would replace the Agnelli family as the group's main shareholder and sell virtually all the non-car businesses in order to concentrate on turning around Fiat Auto's fortunes.
Mr Colaninno has already had discreet contacts on Fiat with Silvio Berlusconi, the prime minister, and with the Agnellis, but not with General Motors, which owns 20 per cent of Fiat Auto, according to one person close to the situation.
"Colaninno would be the chief executive and the leading investor. He has a strong record as someone who can turn around companies. And he has been talking with Berlusconi, ...
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