Plans to merge carmakers Renault and Fiat Chrysler may re-emerge regardless of the breakdown of negotiations final week, France’s transport minister stated on Tuesday, becoming a member of a refrain of French officers hoping the deal might be revived. Requested if talks between the 2 firms have been over, Elisabeth Borne advised BFM TV: “I believe it isn’t closed.”
Borne’s feedback comply with related remarks by French Finance Minister Bruno Le Maire, who additionally stated he felt a merger between France’s Renault and Italian-American Fiat Chrysler Vehicles (FCA) remained a “good alternative.”
French price range minister Gerald Darmanin stated final week as properly that he hoped the door had not closed on a deal. Final week, FCA pulled out of $35 billion merger talks with Renault, with each firms blaming the French authorities.
France has a 15% stake in Renault and the collapse of the talks disadvantaged the businesses of a possibility to create the world’s third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies.
FCA and Renault are nonetheless searching for methods to resuscitate their merger plan and win the approval of Renault’s alliance companion Nissan, sources near the businesses have advised Reuters.