Sergio Marchionne, chief executive officer of Italy's Fiat, said that the carmaker could issue a mandatory convertible bond as a way of financing investments after its $4.35 billion deal to buy the rest of Chrysler.
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UK-based social mobile shopping app Depop launches an Android app
Depop, a social mobile shopping startup based in the UK, has rolled out its app on Android in order to expand its footprint in the marketplace, TechCrunch reported.
Hutton Collins inks deal to invest €50M healthcare IT systems firm Dedalus Group
Hutton Collins, a provider of preferred capital, will be investing €50 million in the form of a subordinated loan and minority equity interest in Dedalus Group, a healthcare IT systems company based in Italy.
Android still most popular mobile platform but Samsung is under pressure as competition heats up
Data showed that Android holds the top spot as the most popular mobile platform in the world but Samsung is clearly under pressure as local players step up their game, TechCrunch reported.
Bonomi offloads entire stake in Italian bank Pop Milano -source
Private equity investor Andrea Bonomi, the biggest investor in Milan, Italy-based banking firm Banca Popolare di Milano (Pop Milano), has offloaded his entire 8.6% stake in the bank, according to a source familiar with the matter.
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Alitala, Italy's flag carrier, has written to Italian banks UniCredit and Intesa Sanpaolo asking to extend an existing loan agreement by €50 million. This comes on top of the €200 million in bank loans agreed on in October.
Italian newspaper Il Sole 24 Ore said Telefonica is planning a joint offer of TIM Brasil, the local wireless unit of Telecom Italia, Reuters reported.
Despite the relatively low price Fiat managed to score in its buyout of Chrysler Group LLC, analysts said the ballooning debt of Fiat should be something to worry about.
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
Shareholders of Banca Monte dei Paschi di Siena SpA reportedly sided with main shareholder Fondazione Monte Paschi with regard to postponing the cash call until May of next year.
A Reuters report said Alessandro Profumo, chairman of Monte dei Paschi di Siena, will be revealing his decision whether to stay or resign from his post at the Italian lender in a January meeting.
Popolare Vicenza Chairman Gianni Zonin told an Italian daily that Banca Popolare di Vicenza intends to grow its branches to a thousand from its current 690 through acquisitions.
The intention of Monte dei Paschi di Siena's largest shareholder to postpone the planned cash call until the middle of next year has irked Profumo and chief executive officer Fabrizio Viola.
The Irish Aviation Authority has spent €20 million to buy a 6% stake in Virginia, US-based air traffic surveillance firm Aireon LLC, as part of an agreement with Italy and Denmark to invest in the new service.
