Fiat Auto saw loss lower in Q2 - report


FRANKFURT, July 29 (Reuters) - The autos division of embattled Italian industrial group Fiat had a reduced loss in the second quarter than in the first three months of 2002, the division's chief was quoted as saying on Monday.

"The loss is smaller -- not significantly, but smaller," the Financial Times Deutschland quoted Giancarlo Boschetti as saying.

Analysts polled by Reuters expect Fiat Auto to post a second-quarter operating loss of 375 million euros ($370.6 million) when the group reports later on Monday, compared with a first-quarter loss of 429 million.

Fiat said late on Friday it had reached final agreement on a three-billion-euro mandatory convertible loan with a group of mostly Italian banks as the group struggles to cut its debt.



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