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Fiat Group £2.7bn loss?

Italian industrial group Fiat is likely to post a worse-than-expected record net loss of about 4bn euros (£2.7bn) for 2002, two Italian newspapers reported on Friday.

Il Sole 24 Ore financial daily said Fiat Auto would post a 2bn euro net loss.

Analysts taking part in a Reuters survey last week forecast net losses varying from 0.7 to 3.3bn euros.

Fiat is due to announce its fourth-quarter and full-year 2002 results later today.

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