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The latest rumours surrounding the financial predicament of Fiat involve yet another possible scenario for Ferrari. Fiat Chairman, Paulo Fresco, is believed to be negotiating the cancellation of the "Put" option to sell 80% of Fiat Auto to General Motors. GM too would prefer not to acquire the heavily loss-making vehicle maker because of its own financial constraints, including large pension liabilities. The most common scenario would see GM gladly accepting the cancellation of its option and Fiat Auto transferring its Alfa Romeo operations to Ferrari. From there GM or other car makers could buy into Ferrari-Alfa Romeo, a far more attractive investment that would give Fiat the cash it needs. According to one person familiar with the situation, Mediobanca (already
a Ferrari shareholder) has approached Volkswagen about investing in Ferrari-Alfa
Romeo. Click here to return to the Ferrari Happenings page.
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