From: Autosport Fiat postpones Ferrari IPO Fiat Auto, which had been planning an initial public offering (IPO) of its Ferrari Maserati business in the summer of 2004, has decided to postpone the flotation, citing unfavourable Italian stock market conditions. Reporting an 8.8 percent drop in sales in its 2003 fiscal year, and losses of almost 2bn, CEO Giuseppe Morchio said: "We must delay this operation. The conditions are not right today." Greg A
Suuuuuuuprise. I think Alex, Brian, Doody and myself made some accurate predictions about this earlier. To wit "no ****, sherlock!" --Dan
You can always invest in Fiat FIA right now the stock is under $8.00 a share and has climbed over 50 cents in Februaray.
There a correction to the headline. FIAT Auto does not own Ferrari. FIAT SPa, the holding company owns Ferrari-Maserat as well as FIAT Auto.
