Washington  - With the clock ticking down on an April 30 deadline, Fiat could back out of a government-mandated deal if Chrysler's unions don't agree to cost reductions, the company's head Sergio Marchionne told Canada's Globe and Mail newspaper Wednesday.

Fiat's chief executive officer told the newspaper that Fiat would look for another international partner if the unions don't cooperate.

"Absolutely we are prepared to walk," Marchionne told the daily.

A Fiat spokesman confirmed the CEOs comments to Bloomberg financial news service.(dpa)