Fiat Auto spin-off, recap good for Fiat-Intesa CEO

Newswire

MILAN, Jan 28 (Reuters) - A spin-off of Fiat Auto plus a five billion-euro recapitalisation of the struggling carmaker would boost the value of the rest of Fiat, the CEO of one of the group's big creditor banks was quoted as saying on Tuesday. "If we separate the car (unit) and recapitalise it with five billion (euros) the rest will be worth more too," Banca Intesa Chief Executive Corrado Passera told Corriere della Sera in an interview, refering to a widely expected rescue plan for Fiat. ...

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