Volkswagen eyeing Ferrari as its next acquisition, German press says

Article by Christian Andrei, on November 11, 2010

According to the latest reports from German press, it appears that Volkswagen Chairman Ferdinand Piech is eyeing Ferrari as the next acquisition. In a recent interview with the Manager magazine, Ferdinand Piech also said that Volkswagen would like to buy Fiat's Alfa Romeo brand, but the "real object of his desire," is Ferrari.

Still, Volkswagen has enough sporty brands, as the manufacturer already owns Lamborghini, Bugatti, Bentley and it is preparing to merge Porsche into its portofolio.

Regarding Bugatti, it appears that Volkswagen bought this marquee after Piech's son was thrilled at seeing a vintage miniature Bugatti in a toy shop.

For those who don’t know, Ferrari is currently Fiat’s most profitable brand and financial analysts say that its value is between 2.3 billion and 3.5 billion billion euros.

With a cash pile of 19.6 billion euros ($27 billion), it is a piece of cake for Volkswagen, but we don’t believe that Ferrari, an iconic Italian brand can be sold to a German manufacturer.

Furthermore, back in September Fiat CEO Sergio Marchionne already denied a report from an Italian newspaper that Fiat may sell Ferrari in order to raise funds to increase its stake in Chrysler Group.

Yes, Marchionne didn’t rule out selling part of Ferrari. The solution for Volkswagen, could be an initial public offering. [via autonews - sub. required]

Topics: vw, ferrari, germany

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