No Ferrari IPO before Oct. 12, says CEO

(AGI) Rome, June 5 - Ferrari will be launched on the stockexchange but "we need to wait 12 months from the date of theFCA merger," explained Fiat-Chrysler (FCA) CEO, SergioMarchionne, from the Council for Italy-U.S. relations inVenice. "So technically it could be on Oct. 12," theFiat-Chrysler boss continued, explaining that the delay is due"exclusively to technical reasons that we have to respect". "We were already very clear about this," he stressed,confirming that the IPO would involve 10 percent of Ferrarishares because no more than that are required. As far as thecompany

(AGI) Rome, June 5 - Ferrari will be launched on the stockexchange but "we need to wait 12 months from the date of theFCA merger," explained Fiat-Chrysler (FCA) CEO, SergioMarchionne, from the Council for Italy-U.S. relations inVenice. "So technically it could be on Oct. 12," theFiat-Chrysler boss continued, explaining that the delay is due"exclusively to technical reasons that we have to respect". "We were already very clear about this," he stressed,confirming that the IPO would involve 10 percent of Ferrarishares because no more than that are required. As far as thecompany headquarters is concerned, Mr Marchionne insisted:"Ferrari will continue to pay taxes in Italy", though he didnot rule out the company being listed on the NYSE on Oct. 13. Sergio Marchionne's contract with FCA expires in 2018, butthe CEO has not closed the door on a possible extension. "Ifthey ask me, and they would need to ask me, I could stay onafter 2018 to continue the consolidation process," he added.(AGI) . .