Thursday, November 17, 2005
Is Smart for Sale?
Posted Nov 17, 2005, 5:30 PM ET by Stuart Waterman
DaimlerChrysler on Thursday dismissed rumors that chairman-designate Dieter Zetsche is considering the sale of its money-losing Smart business.
Markets apparently liked the rumor, sending shares up 2 percent on a report by German publication Manager Magazin (translation here) that Zetsche would consider selling all or part of the Smart brand. The rumor is credited to “executive committee” sources.
According to Reuters, DaimlerChrysler is sticking to its official story that it supports Smart management’s plan to reach break-even by 2007, despite widespread skepticism outside the company.
The really interesting question is, if Smart’s for sale, who would buy it?