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Business Autos 28 May 2019 Renault to study Fia ...

Renault to study Fiat Chrysler merger offer

DECCAN CHRONICLE. | JOSEPH SCHMID & CELINE CORNU
Published May 28, 2019, 12:53 am IST
Updated May 28, 2019, 12:53 am IST
Investors cheered the prospect, with Renault's shares soaring 15 per cent in afternoon trading in Paris
After a board meeting over what it termed a "friendly" offer, Renault said it would enter talks on a merger that would forge the world's third-largest automaker.
 After a board meeting over what it termed a "friendly" offer, Renault said it would enter talks on a merger that would forge the world's third-largest automaker.

Paris: Renault said that it would study "with interest" a 50-50 merger proposal from Fiat Chrysler, a deal that could reshape the industry as Renault reviews its options following the arrest in Japan of its chief executive.

Renault had for years tied its strategy to a partnership with Japanese automaker Nissan but this has come into question after the arrest and subsequent ouster of Carlos Ghosn at both companies.

 

After a board meeting over what it termed a "friendly" offer, Renault said it would enter talks on a merger that would forge the world's third-largest automaker.

Investors cheered the prospect, with Renault's shares soaring 15 per cent in afternoon trading in Paris, and Fiat Chrysler stock up more than 10 per cent in Milan. A deal would give Fiat access in particular to Renault's electric car technologies, allowing it to meet the strict CO2 limits being enacted by the European Commission.
— AFP

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