Fiat to Float Ferrari

Fiat patriarch Gianni Agnelli is planning to float the company's prestigious sports car company Ferrari on the Milan stock exchange.

The move to float the company, which could see Ferrari valued at one billion pounds, would help Ferrari retain the main men who secured the Formula One Drivers' and Constructors' titles for the team this year - Ferrari president Luca di Montezemolo, team boss Jean Todt and 2000 World Champion Michael Schumacher.

It would top a successful year for Ferrari, who sold over 4000 cars for the first time in its history. Ferrari's recent success has seen Fiat give them the opportunity to revamp Maserati, which will see the marque relaunched in the near future.

However Ferrari's recent success has led to speculation that its key personnel could be headhunted and leave the company. Recently, Luca di Montezemolo spoke of taking a year off, while several people in the Ferrari Formula One team have received tempting offers from opposition teams. A flotation would see all the key players, including 2000 World Champion Michael Schumacher, receive a stake in Ferrari.

The plan to float Ferrari is the reason they were left out of the General Motors-Fiat deal earlier in 2000, when the American giant took a 20 percent stake in Fiat, with Fiat in return taking a 6 percent stake in GM.