World News: 16:36 GMT Friday 27th June 2014. [Yahoo Business News Feed via SPi World News]
By 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 finalize 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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