TURIN, June 28 (Reuters) - Shareholders in Italian power holding Italenergia, including carmaker Fiat and Electricite de France [EDF.UL], on Friday approved a plan to merge the company into its power affiliate Edison . The plan was announced in May along with a capital increase and bond issue to strengthen Edison's role as Italy's number two power company and was approved by Edison shareholders on Thursday. The merger will not take place before November.
Italenergia shareholders also approved a plan to request a listing on the Milan bourse for additional Edison shares. This will follow a capital increase which will see 10 new Edison shares, ordinary and savings, offered for every seven currently held.
Fiat recently agreed to sell a 14 percent stake in Italenergia to creditor banks for about 580 million euros and offer its remaining 24 percent as a guarantee for 1.2 billion euro loan from Citibank , part of a plan to cut group debts and turn around its losses.