People’s Bank of China owns 2 pct stake in Fiat Chrysler-Reuters


(Reuters) – People’s Bank of China owns 2 percent of Fiat Chrysler, the carmaker’s chairman John Elkann told shareholders at the start of a shareholder meeting, making the Chinese central bank one of the Italian group’s key investors.

Fiat shareholders are expected to approve the Italian carmaker’s merger with its U.S. unit Chrysler at the meeting on Friday, a tie-up aimed at boosting the world’s seventh-largest auto group’s appeal with foreign investors and paving the way for a U.S. share listing.

Shareholders holding more than 52 percent of the company’s equity capital were present at the meeting.