Fiat CFO expects to sell Fidis stake by end 2002

Newswire

MILAN, Oct 31 (Reuters) - Fiat's Chief Financial Officer Ferruccio Luppi said on Thursday that the money-losing industrial group expected to sell a majority stake in its Fidis consumer finance unit by the end of the year. Fiat expects the sale to allow it to deconsolidate seven billion euros in gross debt, at 32.8 billion euros at the end of September. Commenting on the possibility of other asset sales, he said: "We do not expect to complete major transactions in the quarter. However we ...

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