Filed under: Chrysler, Earnings/Financials, Fiat
Everyone is watching
General Motors CEO Ed Whitacre, Jr. to see what he'll be able to pull of this year with respect to his plans, including a possible IPO. Count
Chrysler CEO Sergio Marchionne among the interested. While the
Fiat 500's introduction will likely result in Fiat upping its Chrysler stake to 25 percent, when it comes to a Chrysler IPO, Marchionne is thinking 2011, and he wants GM to go first, according to
Automotive News.
Marchionne feels there's enough investor interest for both GM and Chrylser IPOs, but said, "Let him go, he's been itching to go," in reference to Whitacre wanting a GM IPO as soon as this year. Chrysler has good reason to wait. It's arguably further behind than GM in its turnaround, and whereas GM has the Volt to make a potential shareholder splash in 2010, Chrysler's product fireworks won't really start booming until next year.
For now, Chrysler
milestones are being reached ahead of schedule and things in Auburn Hills are going well enough to get Marchionne to say, "May is "turning out to be a good month." A Chrysler IPO is obviously desired, but based on Marchionne's latest statements, it remains in the distance.
[Source:
Automotive News - sub req'd]
Marchionne says "Probably 2011" on Chrysler IPO, wants GM to go first originally appeared on Autoblog on Sun, 23 May 2010 09:32:00 EST. Please see our terms for use of feeds.
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23-05-2010, 04:50 PM
