Volkswagen Chairman Ferdinand Piech has openly said that he would like to acquire Alfa Romeo from Fiat SpA. However, Fiat’s CEO Sergio Marchionne has sternly replied saying that he has no plans of selling the brand and is focused on turning it around and making it profitable.
According to reports coming out of Germany, Piech also has his sight set on Ferrari. Manager Magazin says that Peich’s “real object of his desire,” is Ferrari.
The owner of Lamborghini, Bugatti and soon to be the owner of Porsche already has a bunch of sporty brands in its stable and with a cash pile of $27 billion, it has more than enough money to afford Ferrari.
Ferrari, which is Fiat’s most profitable brand, is valued by financial analysts at between 2.3 billion and 3.5 billion euros.
– By: Omar Rana
Source: Automotive News (Subscription Required)