TURIN, Italy (Reuters) - Talks on the sale of indebted Italian car designer Pininfarina to Indian automaker Mahindra and Mahindra are continuing, a Pininfarina source said on Thursday, countering media speculation that a deal was uncertain.
Shares in the renowned Italian car designer were suspended from trading on Thursday after falling more than 10 percent to their lowest level since late August after daily MF reported that there were growing doubts over the success of the talks.
Pininfarina - which has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac - has been loss-making for years and its net debt stood at 47.4 million euros at the end of September.
It has been struggling to stay in business as carmakers have moved to hire more in-house stylists at the expense of independent design firms.
(Reporting by Gianni Montani, writing by Agnieszka Flak)
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