It was all a dream: VW, Fiat CEO says Alfa Romeo and Ferrari transaction ‘just a dream’

Alfa Romeo 8C Competizione - Ferrari 599 GTO

Earlier this morning we reported the Volkswagen AG’s Chairman Ferdinand Piech, who has openly expressed his interest in acquiring Alfa Romeo, is also looking to purchase Ferrari from Fiat SpA. Both Sergio Marchionne, Fiat’s CEO, and Martin Winterkorn, Volkswagen AG’s CEO, said that a sale of Alfa Romeo and Ferrari to the German automaker is only a “dream.”

Volkswagen’s interest in Ferrari and Alfa Romeo “are nice dreams,” Marchionne said at an event in Turin, Italy. Marchionne was quoted by Ansa newswire. Ansa also reported Winterkorn as saying that Alfa Romeo “is just a dream” and the brand “makes gorgeous cars but nothing more.”

Ferrari, Fiat”s most profitable brand, is valued at between 2.3 billion and 3.5 billion euros.

– By: Omar Rana

Source: Automotive News (Subscription Required)