SAN FRANCISCO/NEW YORK - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. | Video
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Fiat says has no specific plan for capital increase
MILAN (Reuters) - Italian carmaker Fiat (FIA.MI) commented on press reports on Friday it was in talks with banks to explore a possible capital increase, saying it had "no specific project" regarding a capital increase, and that it had no need for one.
"The Italian newspapers Il Messaggero and Il Mattino reported this morning about alleged Fiat's ongoing talks with banks regarding a proposed share capital increase," the company said in a statement.
"Fiat states there is no specific project in such respect, and believes that there is no need for a capital increase," it said.
An unsourced report in Il Messaggero on Friday said Fiat was sounding out UniCredit (CRDI.MI), Morgan Stanley (MS.N), Bank of America (BAC.N) and Goldman Sachs (GS.N) about the possibility of raising between 1 and 2 billion euros ($1.3-$2.6 billion).
(Reporting by Jennifer Clark)
- Tweet this
- Share this
- Digg this