Fiat SpA confirms it will launch a public offering for its Ferrari SpA operation and slash jobs company-wide, as it looks to counter mounting losses. The Italian conglomerate says it will float a minority share of Ferrari later this year, a move it expects to attract E750 million ($682 million) in cash. Fiat is targeting a reduction in debt from E6.6 billion ($6.0 billion) today to E3 billion ($2.7 billion) by the end of 2002. An initial public offering of Ferrari has been rumored for ...
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