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ITALY: Fiat wants all of Chrysler

By Graeme Roberts | 31 October 2013

Fiat chief executive Sergio Marchionne has said the company's long-term goal is to own 100% of Chrysler.

Chrysler last month filed papers to list shares held by a union-related healthcare trust on the New York Stock Exchange, Reuters noted.

Speaking to with analysts, Marchionne said he was working "diligently" on preparing a possible share sale by Chrysler.

But Fiat still wants to own 100% of Chrysler, he said in reply to a question about whether his goal had changed.

He also said the company is currently not in talks with union-affiliated healthcare trust Veba to buy up the 41.5% stake in Chrysler it does not already own.

"We are now intent on expecting the IPO. I hope we can get it done by the end of this year. So there is nothing parallel going on with anything - the horse has left the barn," Marchionne said, according to Reuters.

He added he has no plans for asset sales in connection with eventual Chrysler buyout.

"I'm not selling anything, nor do I think we need to do so," he said.

The group said it expects to sell about 4.4m of the Fiat-Chrysler group's mass market-brand cars worldwide this year.

Last year, Fiat sold 1.6m cars and light trucks in Europe, which includes 27 EU countries plus EFTA.

Fiat said it would present an updated five year plan during its first quarter 2014 results.