Magna still weighing options on Chrysler

Magna International Inc. said Friday that it continues to review "potential alternatives" regarding Chrysler Group.

Last Updated: Friday, April 13, 2007 | 9:06 AM ET

CBC News

The Aurora, Ont.-based auto parts giant has been rumoured to be among the bidders for the financially troubled automobile maker.

In a press release issued prior to the opening of stock markets, Magna said
that as [Chrysler parent] DaimlerChrysler is one of its largest customers, it "is seeking a full understanding of the situation regarding the future of the Chrysler Group, and any constructive role Magna may play in a potential transaction."

"There is no assurance that any transaction will result from Magna's current involvement," the company said.

Earlier this week, Magna chairman Frank Stronach confirmed his company was in talks with Onex Corp. about making a bid for Chrysler.

Stronach did not comment on the potential size of a bid for the firm.