Italian government might ask for symmetry with Paris in FCA-Renault merger - League lawmaker

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Italian government will defend national interest in the FCA- Renault merger and ...

FILE PHOTO: Fiat Chrysler Automobiles worker Mario Marcello Giulisano poses at the entrance of the Mirafiori plant in Turin, Italy May 15, 2019. Picture taken May 15, 2019. REUTERS/Massimo Pinca/File Photo

MILAN - Italian government will defend national interest in the FCA- Renault merger and might ask for a stake in the new global automaker to match French state holdings, a prominent League ruling party lawmaker said on Monday. Fiat Chrysler has made a “transformative merger” proposal to Renault, the Italian carmaker said on Monday, in a deal which would create a world leader and help address some of the weaknesses in both automakers.“We might ask for symmetry” in governments’ stakes, he said.

 

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continuous consolidation of the automotive industry is a sign of weakness and potential disaster. creation of too big to fail monsters will end up on the liability side of respective governments' balance sheets. this should be avoided at all costs.

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