News Formal

Fiat Chrysler open to fresh merger talks with Renault

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

United States News News

Logic of tie-up remains but circumstances need to change, CEO Mike Manley tells Financial Times

Paris — The CEO of Fiat Chrysler remains open to the possibility of resuming merger talks with France’s Renault, months after talks between the two vehicle makers aimed at forging an industry powerhouse broke down, according to an interview published on Monday.

Fiat walked away after growing frustrated with tensions between Renault’s executives and the French state, which holds a 15% stake and double the voting rights. Renault chair Jean-Dominique Senard publicly blamed the French state for scuppering the deal, a charge rejected by finance minister Bruno Le Maire.Mounting friction between Renault and alliance partner Nissan also cast a pall over the Fiat negotiations, with Japanese executives furious at having been kept in the dark about the plan.

Renault owns 43% of Nissan, which in turn has just a 15% stake in Renault and which carries no voting rights.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inquest docket opened after body found on Table Mountain. - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Western Cape Police say an inquest docket has been opened after the body of a woman was found on Table Mountain.
Source: SABC News Online - 🏆 32. / 51 Read more »