MILAN, June 3 Shares of Exor, the
holding company that controls Fiat, opened 2 percent
higher in a weaker market on Monday after it said it will sell
its entire 15 percent stake in Swiss inspection company SGS
Exor is selling the SGS stake for 2 billion euros ($2.6
billion) to Groupe Bruxelles Lambert (GBL).
Exor Chairman John Elkann gave the clearest indication yet
on Friday that Fiat's planned merger with Chrysler may include a
capital increase, when he was quoted as saying Exor would use
the total of between 1.2 billion and 1.3 billion euros already
on its balance sheet to keep its grip on the future merged
Shares in Fiat opened down 1 percent but quickly reversed
losses to extend their week-long rally.
(Reporting by Jennifer Clark; Editing by Lisa Jucca)