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Marchionne responds to Ferrari buy-out rumors
Ferrari chairman Sergio Marchionne has denied rumors that he could make a bid for the iconic brand in the future. The Fiat-Chrysler boss is scheduled to remain at the helm of the automotive group until April 2019, but continue to manage Ferrari at least until early 2021, at which point many believe he could take the Italian manufacturer private. Visiting the Detroit Auto Show yesterday, Marchionne crushed the rumors however. "Who puts such stories into circulation? That’s nonsense!" said the Canadian-Italian manager. "Calculate that Ferrari is worth 20 billion on the stock market, so at what price would I have to buy the company? We are talking about 30 billion dollars....
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