Fiat may up its stake in Ferrari

Fiat's chairman Luca di Montezemolo (who is also Ferrari's chief executive) said Thursday that Fiat may be considering buying back some of the shares in Ferrari held by the Mediobanca merchant bank.
Mediobanca has held shares in Ferrari since 2002, when it led a group of banks in a purchase of 34 percent of Ferrari to help bail out debt-laden Fiat. Mediobanca still holds 11.7 percent of Ferrari, while Fiat owns 56 percent.

Fiat's halo brand turned a healthy profit in the most recent quarter, driven by strong sales of its new F430 model.

[Source: Automotive News]

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