Fiat eyeing Mubadala fund's stake in Ferrari: Report

MILAN: Italy's Fiat, which owns 85 percent of Ferrari, is in talks to buy the Mubadala fund's five percent stake in the luxury car maker, according to the daily Il Giornale on Wednesday.

Fiat declined comment on the report when contacted by AFP.

The right-wing newspaper said an option for Fiat to acquire the Abu Dhabi-based fund's share expired on July 31, adding that it would be priced at 302.7 euros (392.6 dollars) per share.

Ferrari is not publicly listed.

The remaining 10 percent is owned by Piero Ferrari, the son of Ferrari founder Enzo Ferrari.