In October, Fiat executives told analysts that they expected car sales to rise little or not at all in 1996.

Though none of the Agnelli family were harmed, four senior Fiat executives were shot dead and 27 wounded.

At least publicly, Fiat executives claim to see more opportunity than dangers in the changes under way in Europe.

Fiat executives have said they would not exercise the option.

But one Fiat executive said, "Ultimately, it is all feasible."

Besides the car business, Fiat executives were also entranced by the idea of combining the two companies' truck and construction equipment businesses.

Earlier, two senior Fiat executives were arrested and jailed.

Two high-ranking Fiat executives were arrested in a growing scandal involving political bribes.

A total of 12 senior Fiat executives have been investigated.

Fiat executives could not be reached Tuesday evening.