F1 top news

Floatation will not hurt Ferrari in F1 – Marchionne

Floatation will not hurt Ferrari in F1 - Marchionne

Floatation will not hurt Ferrari in F1 – Marchionne

Sergio Marchionne has denied that Ferrari’s floatation will affect the fabled F1 team.

Earlier, owner Fiat Chrysler floated 10 per cent of the Maranello marque’s shares.

And now president Marchionne has confirmed that the bulk of the remainder will be listed on the Milan Stock Exchange on January 4.

It is said the windfall to Fiat will be about $4 billion, with former president Luca di Montezemolo telling Italian media that Ferrari “has become Fiat’s cash machine”.

But Marchionne said on Monday: “The stock market will not affect the future of the racing department.

“One has nothing to do with the other, even if Wall Street or Milan will watch the results of the grands prix with a bit of extra attention.”

Facebook Comments
Loading...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV or any other subsidiary associated with the official Formula One governing organizations The website is an unofficial website, all names and logos used here are property of their respective owners, more specially FORMULA 1, FORMULA ONE, F1, GRAND PRIX and logos and the wide Curves logo are trademarks of Formula One Licensing BV, a Formula One Group Company. Use or depiction of images or trademarks throughout this website is for illustrative and editorial purposes only. Official Formula One information can be found at www.formula1.com

Copyright © 2015 Thisisf1.com

To Top