Fiat’s Chrysler Buyout Plan Remains Stalled

Chrysler-Fiat CEO Sergio Marchionne tells reporters that Fiat's efforts to buy the 41.5% of Chrysler Group it doesn't already own are going nowhere.

The outstanding stake is held by a United Auto Workers union retiree healthcare trust. A sale has been bogged down for months over the value of the trust's shares.

Both sides agree that an initial public offering would quickly set a value for the holding. Chrysler filed for an IPO on Sept. 23 at the trust's request but would prefer to negotiate a direct purchase of the stake. The trust has hired Deutsche Bank to help it decide what to do.

Marchionne says an IPO is still technically possible by year-end, but he considers 2014 a more likely target.

Fiat is eager to acquire all of Chrysler and fully merge the two companies. Doing so would give the company access to Chrysler's $12 billion in cash to bolster its European operations.