ITALY: Fiat borrowing extra two billion euros from banks - reports
A rescue plan for Fiat will include a new two billion-euro syndicated loan from banks as well as a 1.8 billion-euro capital increase to be completed as early as July, newspaper Il Sole 24 Ore reported on Tuesday, according to Reuters. The news agency reported that Il Sole, Italy's leading financial daily, said the plan would also extend until 2008 a three billion-euro convertible loan offered by creditor banks to the loss-making industrial group last year. Fiat declined to comment on the report.
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