Tuesday, May 28, 2013

Reuters: Global Markets: Fiat rises to highest in nearly two years on Chrysler buyout talk

Posted by Isabella on 1:51 AM

Reuters: Global Markets
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Fiat rises to highest in nearly two years on Chrysler buyout talk
May 28th 2013, 07:37

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A Fiat logo is seen on the wheel of a Fiat car in Turin in this picture taken February 10, 2013. REUTERS/Stefano Rellandini

A Fiat logo is seen on the wheel of a Fiat car in Turin in this picture taken February 10, 2013.

Credit: Reuters/Stefano Rellandini

MILAN | Tue May 28, 2013 4:07am EDT

MILAN (Reuters) - Shares in Italian car maker Fiat (FIA.MI) 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 own 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.

(Reporting By Danilo Masoni; Editing by Lisa Jucca)

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