Fiat has bought back 28.7% of Ferrari that it had sold to Italian banks in 2002.
Fiat had sold the stake when it was facing a cash crisis, but now its financial position is healthier. The company has sold a lot of non-car assets (it has traditionally been Italy's biggest conglomerate owning everything from a newspaper to train manufacturer), and the new Grande Punto is doing well, boosting the coffers.
Read Article