Shares in Fiat fall on Chrysler IPO uncertainty

MILAN Mon Nov 25, 2013 10:12am EST

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MILAN (Reuters) - Shares in Fiat FIA.MI fell more than 2 percent in afternoon trade on Monday, extending earlier losses after the Italian automaker said its U.S. unit Chrysler would not launch an initial public offering before the end of the year.

In a statement, Fiat said it was not possible to say if and when such an offer would be made as this depends on market conditions.

By 1321 GMT (0831 ET), Fiat shares were down 1.4 percent at 5.87 euros after dropping as much as 2 percent after the release of the statement.

Fiat said it expected Chrysler to continue working on the necessary steps to enable an initial public offering to be launched in the first quarter of 2014.

(Reporting by Danilo Masoni, editing by Isla Binnie)

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