UPDATE 1-Fiat posts record loss, plans capital increase

Newswire

(Adds detail) MILAN, Feb 28 (Reuters) - Fiat posted a 4.26 billion-euro net loss for 2002 on Friday as one-off items drew a line under the industrial group's worst-ever year and cleared the decks for new management to focus on a turnaround plan. Fiat also said its board had approved a five billion-euro capital increase for its struggling car arm which would be carried out within 18 months. Of that total, Fiat would provide Fiat Auto with three billion euros immediately, it said. In a ...

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