Italy's FIAT is about to announce an alliance with the American group GENERAL MOTORS. Under the agreement being prepared, GENERAL MOTORS will initially acquire 20% of FIAT AUTO (turnover of EUR 22.4 billion in 1999), the passenger car subsidiary of the Italian group, estimated to be worth EUR 2.5 billion. A special clause will give GM the option of raising its stake to 50% subsequently. In exchange, FIAT will acquire less than 10% of GM, 5% according to informed sources, at a cost of USD 3.4...