christopher heiser <christopher AT heiser DOT net>
Date Published: July 8th, 2002
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Ferrari Sells 1/3 of Shares to Cover Fiat Debt, Luca Montezemelo to Retire

A bombshell, or just a good time to leave? According to an ITV report (relayed by our man in Ireland), Ferrari chief Luca Montezemolo was unaware of a deal where parent company Fiat sold 34% of their shares in Ferrari to raise 510 to cover debts. After this year Ferrari will likely have a string of three consecutive world championships (and four constructor trophies) under their belt--sounds like a good time to go, Luca.

by Christopher Heiser on July 8 10:58
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