Loan plan for Ferrero nibbling at Cadbury

A SYNDICATED loan of £2.8 billion is in the pipeline for Ferrero, according to an Italian Sunday newspaper.

Il Messaggero also said the Italian chocolate-maker had not decided what kind of a bid it could make for Cadbury.

Mediobanca has contacted other major Italian banks about a syndicated loan that the maker of Nutella spread could then use to either launch a counterbid with Hershey for Cadbury or to buy chocolate assets, the paper said.