Fiat rises to highest in nearly 2 yrs on Chrysler buyout talk
MILAN May 28 (Reuters) - Shares in Italian car maker Fiat rose more than 4 percent to a peak since August 2011 on Tuesday as speculation over a deal to buy the 41.5 percent stake it does not already onw in Chrysler continued.
Italian newspapers said on Tuesday negotiations were in a decisive phase and Corriere della Sera said Fiat would unlikely pay less than $3 billion for the stake controlled by the U.S. healthcare trust fund VEBA.
Corriere said a Fiat capital hike would be the best way to raise new resources ahead of a Wall Street listing of the merged group.
By 0729 GMT, the stock was up 4.6 percent at 5.92 euros.
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video