Company Investment Latest News: Fiat Says RCS Mediagroup Investment is for the Long Run

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Company Investment Latest News: Fiat Says RCS Mediagroup Investment is for the Long Run

Company Investment Latest News: Fiat Says RCS Mediagroup Investment is for the Long Run
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Company Investment Latest News: Fiat Says RCS Mediagroup Investment is for the Long Run

Wochit 1:16 mins

Fiat Chief Executive Sergio Marchionne said the company's decision to raise its stake in loss-making publisher RCS Mediagroup was a investment for the long term. Fiat recently emerged as RCS Mediagroup's largest shareholder with the surprise announcement it will almost double its stake to 20 percent for a reported 90 million euros. Marchionne has jettisoned many of Fiat's none-core investments since his arrival at the Italian automaker. Japan's Olympus Corp said it will raise up to $1.17 billion in a new share issue to expand its medical equipment business and rebuild its financial health, after an accounting scandal plunged the company into the red. J.P. Morgan has advised in a research note that Dubai Holding could raise almost $1 billion from the sale of its minority stakes in two telecom firms. The conglomerate, owned by the ruler of Dubai, is among a group of state-linked companies trying to recover from a 2009 property crash. The firms face debt repayments of about $50 billion over the next three years.

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