ITALY: Fiat discusses five billion euro recapitalisation or car unit spin-off with creditor banks – report
Crisis-hit Italian industrial group Fiat discussed the idea of a five billion euro recapitalisation for its loss-making car unit at a meeting with its banks on Tuesday, a source close to the talks told the Reuters news agency.
Crisis-hit Italian industrial group Fiat discussed the idea of a five billion euro recapitalisation for its loss-making car unit at a meeting with its banks on Tuesday, a source close to the talks told the Reuters news agency.
“An idea of recapitalisation of Fiat Auto which could be about five billion euros was also discussed. But it is only an idea,” the source told Reuters.
Earlier the same day, the source had told Reuters that Fiat and creditor banks also talked about the possibility of spinning off its car unit at the meeting, but no decision was made.
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