Fiat sell 35% of Ferrari to Italian bank

By FN
June 28 2002

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Car giant Fiat has sold 35 percent of Ferrari in an effort to boost its finances as it continues to lose money. The shareholding, worth £500 million, has been bought by the Italian bank Mediobanca which is believed to want to float the stake early in 2003.

The sale is not expected to have any effect on the Ferrari Formula 1 team.

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