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Sun May 26, 2019, 01:05 PM

Carmakers FCA and Renault to go public on tie-up talks

Source: Reuters

BUSINESS NEWS MAY 26, 2019 / 8:07 AM / UPDATED 2 HOURS AGO

Carmakers FCA and Renault to go public on tie-up talks

Giulio Piovaccari, Laurence Frost
4 MIN READ

MILAN/PARIS (Reuters) - Fiat Chrysler and Renault are set to confirm tie-up talks on Monday, with the board of the French carmaker called to an early morning meeting to discuss the situation.

It comes after news broke over the weekend that two of the world’s leading car companies are in talks on a comprehensive global combination that could address some of the main weaknesses of both.

The plan under discussion would involve some transfer of equity, according to a source close to the discussions.

Renault Chairman Jean-Dominique Senard presented an FCA-Renault merger plan to French Finance Minister Bruno Le Maire on Friday, Les Echos reported on its website. The French government has a 15 percent stake in Renault.

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Read more: https://www.reuters.com/article/us-fiat-chrysler-renault-talks-monday/carmakers-fca-and-renault-to-go-public-on-tie-up-talks-idUSKCN1SW0DF

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