Fiat has bought back the 5 per cent stake in Ferrari that Abu Dhabi investment company Mubadala purchased five years ago.
The move gives Fiat back 90 per cent of Ferrari. According to UAE newspaper, The National, the buy-back has cost Fiat £104m.
"I can confirm that Fiat has exercised the call option for the purchase of the Ferrari stake held by Mubadala," said a Fiat spokesman. "We have no further comment to make."
But although Fiat is being tight-lipped as to why it wanted that extra five per cent, industry rumours suggest that it could be because Fiat is toying with the idea of offering Ferrari shares to the public, possibly leaving itself as little as 51 per cent.
Such a move would be risky but would generate huge amounts of cash – a recent Morgan Stanley report suggested that Ferrari is worth £2.6bn – something that Fiat could desperately do with to help reinvigorate Chrysler.
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