Fiat to buy Mediobanca stake in Ferrari by end-Sept - Forbes.com

Fiat SpA chief executive Sergio Marchionne said Fiat will buy back the 29 pct stake in its sports car unit Ferrari SpA held by Mediobanca SpA by the end of September. 'It is a game that has to be concluded quickly, certainly by the end of the month,' Marchionne said on the sidelines of the presentation of the new Lancia models in Venice. He did not clarify Fiat's plan regarding its 1.9 pct stake in Mediobanca. In further comments, he said that results in the third quarter will be in line with what has been previously announced. Marchionne added that by end-October, once Fiat has announced third quarter results, Fiat will announce additional long-term financial targets. He also said that the Maserati unit 'will start to earn money' by the beginning of 2008.