Fiat SpA has no plans to sell its Fiat Auto unit to General Motors Corp., Fiat Chairman Paolo Fresco says. While Fiat recently announced a restructuring of its automotive operations, Fresco says he expects his company to return to profitability by the end of 2002. Fiat Auto sold a 20% equity stake to GM in March 2000 and has an option to sell the remaining 80% to GM by 2004. Fresco says Fiat Auto plans to remain independent. “Since in business you can never say never, let’s say the sale ...
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