Domenica, 21 Ottobre 2018

Fiat shares jump 2.75% in trading on Milan stock exchange


Milan, April 24 - Shares in Italian automaker Fiat
rose by a healthy 2.75% Wednesday after reports that it is close
to completing its merger with American giant Chrysler.
Fiat's value rose after the Wall Street Journal, citing
unnamed sources, said the Italian parent company was considering
completing its acquisition of Chrysler, its money-making
subsidiary in the United States, and then creating a new entity.
Shares in the new company would then be sold, although the
newspaper wasn't clear on which markets the new company would
Fiat chief executive Sergio Marchionne has repeatedly
stated he wants to buy up all shares in Chrysler that he doesn't
already possess, and merge it with Fiat.
Marchionne is said to be trying to find financing for the
purchase of the remaining 41.5% of Chrysler shares held by VEBA,
a trust controlled by retirees of the United Auto Workers union.

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