Renault Fiat Case ‘Not Closed’

Renault-Captur-2019--1280x892.jpg

Plans to merge carmakers Renault and Fiat Chrysler could re-emerge despite the breakdown of negotiations last week, France’s transport minister said on Tuesday, joining a chorus of French officials hoping the deal could be revived. Asked if talks between the two companies were over, Elisabeth Borne said: “I think it is not closed.”

Borne’s comments follow similar remarks by French Finance Minister Bruno Le Maire, who also said he felt a merger between France’s Renault and Italian-American Fiat Chrysler Automobiles (FCA) remained a “good opportunity.”

French budget minister Gerald Darmanin said last week as well that he hoped the door had not closed on a deal. Last week, FCA pulled out of $35 billion merger talks with Renault, with both companies blaming the French government.

France has a 15% stake in Renault and the collapse of the talks deprived the companies of an opportunity to create the world’s third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies.

FCA and Renault are still looking for ways to resuscitate their merger plan and win the approval of Renault’s alliance partner Nissan, sources close to the companies have told Reuters.


About Retail News Asia

Retail News Asia is committed to providing local and global retailers with the latest news from the Asian retail market on a daily basis.

We have resources for everyone from independently owned business owners to online-only retailers and major chains expanding their reach throughout the Asian market. Retail News is “the news source” with over 50 weekly posts and 13,6 million readers.


CONTACT US

CALL US ANYTIME

Most read



Retail updates

Stay up to date of the lates updates and retail news from Asia.








X