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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.

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.