Fiat Chrysler heads for Wall Street, schooled by struggling sister truckmaker

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Fiat Chrysler Chief Executive Sergio Marchionne gives opening remarks during the FCA Investors Day at Chrysler World Headquarters in Auburn HillsBy Agnieszka Flak MILAN (Reuters) - Sergio Marchionne needs a New York stock market listing to bring in the investors required to fund future growth at Fiat Chrysler, but a lukewarm response to the chief executive's most recent Wall Street launch suggests he has a bumpy journey ahead. Fiat expects to finalise the merger with its U.S. unit Chrysler this year. Marchionne plans an October listing in New York for Fiat Chrysler Automobiles (FCA) to help foot the bill for his 48 billion euro ($65 billion) spending plan to grow net profits five-fold and sales by 60 percent within five years. Fiat shares currently trade in Milan, where they will be replaced by FCA stock.


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