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Fiat Wows Wall Street

The group's combined market value overtakes that of its U.S. rivals

Sergio Marchionne’s overhaul of the Fiat empire makes him “God’s personal gift to auto-sector investors,” according to Sanford C. Bernstein analyst Max Warburton. Marchionne split the carmaker into Fiat Chrysler Automobiles NV, Ferrari NV and CNH Industrial NV, whose combined value had added over 70 percent this year amid speculation more wheeling and dealing awaits. The $63.7 billion valuation is more than 10 times the level of 2004, when Marchionne took charge, and surpasses Tesla Inc., General Motors Co. and Ford Motor Co.

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