Fiat says offer for Opel won't be cash

Fiat SpA CEO Sergio Marchionne said his company's takeover offer for General Motors Corp's Opel unit will include assets that are "better than cash".

Marchionne, who spoke in an interview with Bloomberg Television yesterday in Frankfurt, said he hasn't yet submitted a proposal for Opel. "You're getting a whole pile of assets that produce cash, which is as good or probably better than cash."

The German government has set a deadline of today for investors to submit bids for Opel.