Fiat vows to stand by Chrysler

MILAN/WASHINGTON: Italian automaker Fiat SpA will not walk away from its deal to buy bankrupt Chrysler LLC, a spokesman said yesterday after the US Supreme Court order put the deal in doubt.

Both Chrysler and the Obama administration have said a long delay could kill the deal and result in Chrysler's liquidation. Fiat can abandon the deal if it does not close by June 15.

Taking over Chrysler is a big part of Chief Executive Sergio Marchionne's ambitious goal of vaulting Fiat, Europe's number-six automaker by unit sales, into the top ranks of world car makers.