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Fiat is increasing its stake in Ferrari, buying back the shares it sold to Italian investment bank Mediobanca during Fiat's financial troubles in 2002. The Turin-based auto conglomerate is the undisputed Don of the Italian car business, controlling Ferrari, Maserati, Alfa Romeo, Lancia, Iveco and Magneti Marelli (to name a few), and will exercise its option to buy back the 29% currently held by Mediobanca by the end of September.

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Fiat CEO Sergio Marchionne has confirmed that Fiat intends to exercise its option to repurchase most of the Ferrari stake it sold in 2002 to a consortium of banks led by Mediobanca.

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