UPDATE 1-Fiat shares flat after loan conversion confirmed

Newswire

(updates share price, adds analyst comment) MILAN, April 27 (Reuters) - Fiat shares were flat on Wednesday after the carmaker and creditor banks confirmed the conversion of a 3 billion-euro ($3.92 billion) loan into stock that could make the banks Fiat's top shareholder group. Fiat shares pared early gains to trade at 5.155 euros at 0738 GMT, having earlier risen to 5.29 euros. The stock jumped nearly 7 percent on Tuesday, helped by hopes of agreement with the creditor banks. Last ...

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