Fiat to float Ferrari IPO in HK: sources

Fiat hasn8217;t made up its mind yet about the IPO,but it8217;s certainly talking with banks about it,said a source,who declined to be named because the discussions are private.

Some meetings had been held and several others had been lined up in coming weeks to drum up support for the potential offering,four sources said.

A Fiat spokesman declined to comment when asked if meetings had been held with banks about a possible Ferrari offering. The spokesman referred to comments by Fiat Chief Executive Sergio Marchionne,repeated several times in the past few months including last week,that a Ferrari IPO is not on the table for the time being.

Last year,Fiat said it was considering an IPO for Ferrari as a strategic option and speculation has grown ever since. Still,Ferrari Chairman Luca Cordero de Montezemolo and Fiat8217;s Marchionne have recently sought to play down a potential deal.It8217;s more real than you8217;d think,said another banker who had met with Fiat.