MILAN -- Italian merchant bank Mediobanca is looking at ways of releasing money tied up in a 15 percent stake it holds in sportscar maker Ferrari, a financial source said on Thursday.
The source said Mediobanca's executive committee had discussed proposals concerning the Ferrari stake at a meeting on Thursday, but no decision was taken.
Last year, Mediobanca CEO Gabriele Galateri said he was considering "how and when to create value from (Ferrari)".
Mediobanca bought 34 percent of Ferrari from Fiat in 2002 to help pump money into the struggling industrial group. Fiat had wanted to list Ferrari but decided against that option when markets were falling.
Mediobanca bought the stake for 775 million euros -- a price many analysts said overvalued Fiat's luxury arm -- and then sold on the majority to allies, leaving it with 15 percent.
On Thursday, MF newspaper said Mediobanca could sell its Ferrari stake with options allowing it to buy the shares back in the next four years.