ITALY: Italian insurer to participate in Fiat rights issue – report
Italian insurer Generali intends to subscribe to a €1.8 billion capital increase at industrial group Fiat in line with its around 2.5% stake, a spokesman said on Tuesday, according to Reuters. Reuters noted that, earlier on Tuesday, sources said fellow major Fiat shareholder Deutsche Bank would not take part in the rights issue and earlier this month U.S. fund Dodge & Cox sold almost all its 7.6% stake in the struggling car maker.
Italian insurer Generali intends to subscribe to a €1.8 billion capital increase at industrial group Fiat in line with its around 2.5% stake, a spokesman said on Tuesday, according to Reuters.
Reuters noted that, earlier on Tuesday, sources said fellow major Fiat shareholder Deutsche Bank would not take part in the rights issue and earlier this month U.S. fund Dodge & Cox sold almost all its 7.6% stake in the struggling car maker.
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