Fiat to have buy-back option on Fidis - ANSA

Newswire

MILAN, Aug 23 (Reuters) - Italy's industrial giant Fiat has an option to buy back a majority stake in customer financing arm Fidis if it is bought by creditor banks, Italian news agency ANSA reported on Friday. Fiat is selling 51 percent of Fidis as part of a wide-ranging plan to cut debt and four creditor banks have said they will acquire the stake if no other buyers come forward. ANSA quoted a financial source as saying Fiat had negotiated a call option to buy back the stake within two ...

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