UPDATE 5-Italy's Monte Paschi, Sanpaolo sell Fiat stakes

Newswire

(Adds Sanpaolo price, comments) MILAN, Jan 20 (Reuters) - Italy's Sanpaolo IMI and Banca Monte dei Paschi di Siena on Friday became the first banks to sell shares in Fiat obtained last year from conversion of a 3 billion euro ($3.6 billion) loan. Creditor banks ended up with about 27 percent of the carmaker's equity after converting a loan extended in 2002 at the depth of its crisis. Most of them have said they intend to sell their shares in Fiat -- Italy's largest private employer -- ...

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