Fiat SpA says it plans to ask shareholders to approve a share buyback program totaling E1 billion ($879 million). The request is a renewal of an existing buyback authorization that already has received shareholder blessing. The proposal “represents the renewal of an authorization currently in force, which since 1999 has been proposed each year to the shareholders’ meeting,” Fiat says in a statement. If the buyback were completed, Fiat’s holding of its own shares would equal 10% of its capital.

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