August 7, 2014 / 11:26 AM / in 4 years

Norges Bank voted against Fiat-Chrysler merger-website

MILAN, Aug 7 (Reuters) - Fiat’s shareholder Norges Bank, Norway’s sovereign wealth fund, voted against the Italian carmaker’s merger with Chrysler at a shareholder meeting on Aug.1, according to its website.

The merger was approved by the shareholder meeting but could still fall apart if enough investors exercise their right to sell the shares and get a cash compensation for them.

A spokesman for Norges declined to comment when asked if the fund intended to exercise its exit right, saying it never comments on single investments or companies.

Norges Bank had registered for the shareholder meeting with a 2.15 percent stake, according to the meeting’s minutes read out by Fiat Chairman John Elkann.

However, a filing by Italian stock market watchdog Consob showed this week that Norges had cut its stake in Fiat to 1.338 perent on July 31, a day before the shareholder meeting. (Reporting by Stefano Rebaudo, writing by Silvia Aloisi; Editing by Lisa Jucca)

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