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Friday, 03 January 2003 |
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Speculation of a rescue bid for the struggling Fiat Group caused the company's shares to leap 9 per cent to Euro 8.
44 (£5.5) yesterday. Roberto Colaninno, the former chief executive of Telecom Italia, was reported to be putting together a £5bn package to take a 20 per cent shareholding and turn around Fiat Auto by selling off the group's non-motor holdings. If the deal went through it would put an end to Fiat's put option to sell the outstanding 80 per cent of the car business to General Motors.
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