http://www.autoblog.com/2010/11/11/r...ferrari-stake/If Volkswagen has taught us anything, it's that you can never be too rich or have too many high-dollar automakers under your umbrella. Europe's largest auto group already encompasses Lamborghini, Bugatti and Bentley, is in the process of absorbing Porsche, and makes a couple more six-figure sports cars with Audi badges. But according to reports coming in from Europe, VW has its eyes set on acquiring yet another top-dollar automaker: Ferrari.
Given that it already owns Maranello's most direct competitor, you might be inclined to file this report in the "wild rumor of the day" category and be done with it. And while you'd certainly be justified, there's a whole lot of eyebrow-raising statistics surrounding this report. Rival Fiat group has been looking for ways to raise capital to keep both itself and Chrysler going, and selling stake in Ferrari has been tipped as a possible avenue. Reports have also linked Volkswagen – which reportedly has some $27 billion in cash on hand – with a possible Alfa Romeo takeover.
For his part, Fiat/Chrysler CEO Sergio Marchionne says neither is on the table, but Volkswagen chairman Ferdinand Piech has shown us nothing if not a penchant for buying up any brands he fancies. Given the fact that Fiat needs cash and Volkswagen is willing to spend, we wouldn't rule anything out just yet.
http://www.caradvice.com.au/91049/vo...errari-shares/Rumours circulating say the ‘Group is now thinking of buying stakes in Ferrari, even though it isn’t currently up for sale. About a month ago, Fiat boss, Sergio Marchionne, hinted that he wanted to raise more funds for the Fiat and Chrysler partnership and was thinking of selling off a certain amount of Ferrari shares in an initial public offering type deal.
Volkswagen has been selling well lately, and reports to have around US$27 billion (about AU$27 billion) in profits sitting around. Volkswagen chairman, Ferdinand Piech, has mentioned he would like to add the Italian super-brand, or some of it, to the Volkswagen collection. Although, both of these expressions by the brand bosses are just ‘dreams’ at the moment, and no plans have been made.
Ideas may have since sizzled out, but if auto giant Volkswagen is waving some cash around, it might come time for Fiat to sell off some of its assets for revenue, if it wants to remain as a competitive brand on an international level.
A German Ferrari though, what do you think?
Gotta give props to VW. They have really been raising the bar for other manufacturers in the past few years! Not only with the VW brand but even with the high end brands they own.
Volkswagen to own the world?