French state: we didn't veto Renault-Fiat Chrysler deal
PARIS (AP) — France’s finance minister says the government didn’t oppose a merger deal between carmaker Renault and Italian-American rival Fiat Chrysler.
Speaking on FranceInfo news broadcaster, Bruno le Maire said the government’s key priority is to strengthen the alliance of Renault with its longtime Japanese partner Nissan.
He said a merger with Fiat Chrysler “remains an interesting opportunity.”
He added: “We have never vetoed it. We simply asked five additional days to study the operation.” He noted that Nissan was hesitant about it.
Fiat Chrysler had proposed a 50-50 merger that would have created the world’s third-largest carmaker worth almost $40 billion. Earlier this month, the group pulled the proposal, citing political conditions in France.
The French state is Renault’s biggest shareholder with a 15% stake.
The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.
