Fiat selling to GM?

[91HBSi]

Has anyone got the down-low on this deal. It doesn't sound like things are going very well for Fiat

[Ssom]

Despite the Stilo being a brilliant seller, FIAT is losing market share in Europe and is on a loss-making streak, GM currently have 20% share in FIAT and if thngs don't pick up they have the option of buying the remaining 80%, god I hope FIAT pick up, the last thing I want is a Ferrari done by GM

[91HBSi]

OMG I know what you mean. That is lame though, I heard it all on the radio today. It blew my mind.

If GM made a ferrari it would probably look like a camaro with an underpowered V6 or something, man how I hope Fiat picks up.

I didn't know that Fiat owned two of the main power companies in itally. They are a pretty powerful company aren't they?

[Ando_Rules]

i know it would totally suck if GM made them, so lets all pray dat fait picks up and starts making profits

[Hudson]

Sorry for being so late to the party. I want to clear up a misconception.

General Motors owns 20% of Fiat Auto. Fiat Auto is NOT related to Ferrari SpA. Until last week, Ferrari SpA was 90% owned by Fiat SpA, the 100% owner of Fiat Auto.

Fiat SpA made a deal to sell 34% of Ferrari SpA to Mediobanca of Italy. Mediobanca, in turn, sold 10% of the automaker to Commerzbank of Germany.

GM has no holdings or connection to Ferrari. Fiat Auto owns the Fiat, Alfa Romeo, Lancia, and Innocenti brands. Ferrari SpA owns the Ferrari and Maserati brands.

[91HBSi]

Thanx for the clear up. I just know what I heard on the radio, and I just assumed that that is what was going on.

[Z06nutSS]

if fiat uses the put option on gm in jan 24.2004 -july 2009 and because fiat is doing so bad it will probably do the put option as soon as possible gm will have 100% control of all of fiats auto making subsidiaries including ferrari and maserati

[Z06nutSS]

even if gm dosent completely own ferrari gm still has access to ferrari because of the stock gm bought in 2000

[Sexy beast]

Originally Posted by Z06nutSS

even if gm dosent completely own ferrari gm still has access to ferrari because of the stock gm bought in 2000

NOOOOOOOOOOOOOOOOO!!!!!!!!!!
It can't be true, please no!

[Hudson]

Not to worry...it's not true.

GM doesn't own ANY of Ferrari SpA stock. GM owns about 10% of Fiat Auto stock, with most of the rest owned by Fiat SpA (kinda like the Hyundai Group owning Hyundai Motors). Fiat SpA owns about 60% of Ferrari SpA (which, in turn, owns Maserati SpA) and the rest is primarily owned by European banks and the Ferrari family. GM owns none.

Even if Fiat SpA sells all of Fiat Auto to GM, General Motors will STILL own none of Ferrari without an entirely unrelated deal.

[Sexy beast]

ok thanks...thank god!!

[Z06nutSS]

meh who cares they are supposed to make a car similar to the cien, the zo6 is faster that the modena with a 0-60 time of 3.9 a faster 1/4 mile and quicker slolom speed according to chevy.com, the new c6 will be as fast as hell and not to mention the zo6 is faster then evry current ferrari except the enzo

[Stefanel1]

The shares of GM in Fiat Auto felt down to about 11%

[Z06nutSS]

ok so i know

[Sexy beast]

Originally Posted by Z06nutSS

meh who cares they are supposed to make a car similar to the cien, the zo6 is faster that the modena with a 0-60 time of 3.9 a faster 1/4 mile and quicker slolom speed according to chevy.com, the new c6 will be as fast as hell and not to mention the zo6 is faster then evry current ferrari except the enzo

Just because its faster....doesn't mean it's better.