Accelerating towards full ownership, Italian carmaker Fiat is to buy another 3.3 percent of Chrysler, the US carmaker it manages.

By exercising an option to purchase the shares owned by VEBA - a union healthcare trust fund - Fiat boosts its stake in Chrysler to 61.8 percent.

Chrysler has helped Fiat offset weak car sales in Europe and increased its earnings in recent quarters.

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