Ferrari and Poste Italiane competing on the Stock Exchange – with a luxury “pit stop” to live the high life on New York’s “Big Board” and a second listing in Milan, the FCA launched Ferrari’s initial public offering and not surprisingly, given the popularity of the prancing horse, the world’s major newspapers were quick to report. The US press, closest to events on Wall Street, had much to say, with a piece in the Washington Post on October 12 headed – Fiat Chrysler kick-starts sale of Ferrari stake and a day later, Bloomberg reported that – Ferrari Glitz Takes on Postal Stodge in Italy Inc. Race for IPOs in a piece that drew parallels between Ferrari and (see below) Poste Italiane; two very different groups, albeit both Italian, but both achieving valuations close to 10 billion dollars. Other papers also wrote about the massive valuation the auto maker was expecting. On October 11 London’s Financial Times said – Ferrari lines up luxury pit stops on high-octane IPO roadshow*, and a day later, in France, the headline in Les Echos put a figure on the news – Ferrari va peser près de 10 milliards de dollars en Bourse*. Following on from its New York listing, the group is also considering negotiating some of its shares closer to home in Milan, news reported on October 13 by the Wall Street Journal – Ferrari to List in Milan* and Reuters – Italy’s prime minister says Ferrari will also list in Milan.
Meanwhile, on the Milan Stock Exchange, on October 11, the Financial Times referred to Poste Italiane, noting that – Italy to launch biggest privatisation in more than a decade*. On October 13 France’s Les Echos took a different tack, analyzing the move made by Italy’s Postal Group and comparing it with the position of its European counterparts – Les Postes italiennes à l’assaut de la Bourse de Milan and a day before France’s Les Echos – Forza Italia. On October 12 the Frankfurter Allgemeine Zeitung had carried much the same story – Italiens Post soll auch an die Börse, whilst on October 14 Reuters revealed that it had only been a matter of days after the launch that – Poste Italiane IPO book already covered including greenshoe – sources.
Italian businesses worldwide. It was not just the new listings that attracted the International press that also picked up on how Italian businesses are making noticeable inroads on International markets. On October 9, the Financial Times wrote about Zegna’s plans for success in China – Zegna tailors strategy for changing Chinese market*, whilst on October 4, Bloomberg revealed that Calzedonia was aiming to take on an American icon on its home ground – Italy’s Billionaire Lingerie King Takes Aim at Victoria’s Secret .
Two Spanish dailies chose to concentrate on Fiat’s new Tipo, to be built in Turkey, where the project is seen as a triumph, and sold not only throughout Europe but also in the Middle East and Africa. El Mundo’s piece on October 13 was headed – Tipo, el nuevo compacto de Fiat, and a day later, Expansion wrote that – Fiat recupera la denominación Tipo en su nuevo sedán. Alitalia also got a mention, with the Washington Post reporting, on October 13, that – Alitalia confirms goal of profitability by 2017.
Culture and tourism – Italian culture occupied several column inches in the international press this week. On October 9, the New York Times wrote about the retrospective that New York’s Guggenheim has dedicated to Alberto Burri, the Italian painter and sculptor – Alberto Burri, a Man of Steel, and Burlap* and a couple of days later, the Washington Post published a piece about how Italo-American traditions –especially those of a culinary nature – have put down roots across the United States – How America became Italian.
One of Italy’s most popular singers, Mina, featured in Spain’s El Mundo on October 14, in an article about her decision to give up live performances back in 1978 – Mina: ‘meravigliosa creatura’. As to tourism, on October 9, the Financial Times’ piece – Return to Italy’s Ninfa, a garden that moves to its own rhythm*, was all about discovering the age-old legends about Ninfa, the gardens near Rome often described as “one of the most romantic in the world”.
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