ITALY: Fiat rescue plans multiply - report
Ailing Fiat's banks were meeting on Thursday to consider a spinoff and recapitalisation of its cash-burning car unit while Fiat's top executives prepared for talks with partner General Motors, Reuters reported. Citing sources, Reuters said Fiat and the banks are mulling a plan to split the car unit, which is believed to have lost about 1.2 billion euros last year, from Fiat's other assets, which range from insurance to utilities, in a spinoff that could pave the way for pumping five billion euros of cash into the car unit.
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