UPDATE 1-Fiat has no plans for stake in Mazda

Newswire

(Adds details, more quotes) TURIN, Italy, May 29 (Reuters) - Italian carmaker Fiat will not buy a stake in Mazda Motor, and will move forward soon with plans to up its stake in U.S. automaker Chrysler to over 60 percent. "We have no plan to buy a stake in Mazda," Fiat Chairman John Elkann said on the sidelines of the annual shareholder meeting of Exor, the Agnelli family's investment company through which it controls Fiat and Chrysler. Alliances allow carmakers to share the costs of ...

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