ITALY: Agnelli family member downplays entrepreneur Fiat rescue plan - report
A member of the Agnelli family, which controls struggling Italian car maker Fiat has played down speculation about a new plan to rescue the industrial group said to have been put together by Italian entrepreneur Roberto Colaninno, according to a Reuters report. Reuters said that, amid reports that Colaninno had presented an eight billion euro ($US8.4 billion) plan to the Agnellis, as well to Fiat's creditor banks and the government, Umberto Agnelli told Italian news agency Ansa that money-losing Fiat was sticking to its existing restructuring programme, which involves thousands of layoffs and asset sales.
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