Chrysler, Fiat Deal Near, News Report Says

The long-rumored agreement between auto makers Chrysler Corp. and Fiat SpA may be officially announced as soon as next week, the Financial News Network reported Friday.

FNN, quoting sources inside Chrysler and from Fiat’s home base in Turin, Italy, said the companies would like to have a deal announced next week--perhaps timed to coincide with Chrysler’s scheduled announcement of what are expected to be weak second-quarter earnings on Tuesday.

FNN said, however, that a ranking Chrysler executive denied that a deal could be completed so soon. The network added that any agreement between the companies could take months to complete.

FNN noted that the key questions surrounding any Chrysler-Fiat deal concern how broad a working relationship the two companies would have. It said a joint marketing venture is most likely the first step.