Italian carmaker Fiat SpA rebutted a report that it was set to raise money to finance its purchase of a further stake in Chrysler, saying it had no need for extra funds.Its comment came after an unsourced report in Il Messaggero said Fiat was sounding out UniCredit, Morgan Stanley , Bank of America and Goldman Sachs about the possibility of raising between 1 and 2 billion euros ($1.3-$2.6 billion)."Fiat states there is no specific project in such respect, and believes that there is no need for a capital increase," the company said in a statement on Friday.The situation is important for Fiat, whose Chief Executive Sergio Marchionne is determined to gain full control of Chrysler by buying the remaining 41.5 percent stake from VEBA, a union trust.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC remained unchanged at $10.54. In the past year, the shares have traded as low as $4.92 and as high as $10.71. On average, 152838000 shares of BAC exchange hands on a given day and today's volume is recorded at 363618.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $17.80. In the past year, the shares have traded as low as $12.26 and as high as $21.19. On average, 20187100 shares of MS exchange hands on a given day and today's volume is recorded at 0.
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