Fiat may sell Ferrari shares to raise capital 2 October, 2010 ferrari Oct.2 (GMM) Italian carmaker Fiat has confirmed rumours it would consider selling some of its 85 per cent stake in Ferrari and the famous Maranello based F1 team. The rumour emerged last week at the opening of the Paris motor show, with a newspaper report saying Fiat wanted to raise money to up its stake in the American carmaker Chrysler. Fiat initially denied suggestions it is prepared to reduce its shareholding to as little as a controlling 51 per cent; a sale that is theoretically worth about $1 billion. “No, we have enough financial resources to do everything we have to do,” Fiat chief executive Sergio Marchionne said in Paris. But he also told the New York Times: “We would consider selling a part of Ferrari, but it’s not in the cards now, and I have no project on my desk.” Meanwhile, Ferrari president Luca di Montezemolo played down suggestions Abu Dhabi investment company Mubadala will facilitate the move by releasing some of its minor shareholding. The Italian said Mubadala “will remain for us a very important industrial partner”. Related NewsMattiacci ‘confirms’ 2015 lineup yet againFerrari: We have missed out on a great opportunityAlonso: Fourth on the grid is a good surpriseFerrari: We are reasonably pleased with the outcomePirelli: We expect a dry raceMisunderstanding as Allison replaces Fry at press conferenceFerrari: Mixed fortunes for Scuderia FerrariAlonso reveals intention to extend deal with FerrariFerrari: Spa and Monza will be tough weekendsAlonso: Hopefully our new people can find extra horsepower!