Fiat unlikely to buy more RCS shares - source


TURIN, June 22 (Reuters) - Fiat is unlikely to buy shares in RCS Mediagroup which are being sold as part of a management coup at the Italian media firm, a financial source said on Tuesday.

Fiat, RCS's top shareholder with a stake of 10.2 percent, had been expected to decline on the chance of buying some of the shares being sold by holding company Gemina because Fiat is focusing its resources on its loss-making car arm.

Gemina, controlled by RCS's founding Romiti family, agreed on Monday to sell 8.6 percent of the media group to members of a core shareholders pact for 277.2 million euros ($335 million). Romiti family members also agreed to stand down from management.



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