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Fiat: 'Not practicable' to spin off Chrysler by end of 2013

Italian automaker Fiat said on Monday its U.S. unit Chrysler would not launch an initial public offering before the end of the year and it was not possible to say if and when such an offer would be made as this depends on market conditions.

Fiat "expects Chrysler Group to continue working on the necessary steps to enable an initial public offering to be launched in the first quarter of 2014,'' it said in a statement.

--By Reuters

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