UPDATE 2-Fiat to cancel auto loans as loss exceeds forecasts

Newswire

(New throughout with results, recapitalisation, analyst comment) By Jane Barrett MILAN, Oct 31 (Reuters) - Italy's struggling Fiat group said on Thursday said it would boost its auto unit's capital by up to 2.5 billion euros by cancelling internal loans as its third quarter operating loss was more than double analyst estimates. "The group's loans toward the auto unit will be cancelled," a Fiat source told Reuters after the company said the much-anticipated recapitalisation would not ...

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