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AUTOMOBILE-INDUSTRY-FRANCE-ITALY-JAPAN-US
Renault in team-up talks with Fiat Chrysler: reports
PARIS, May 26, 2019 (BSS/AFP) – French carmaker Renault is in talks with
Fiat Chrysler Automobiles with the long-term prize a world-leading alliance
including Japan’s Nissan and Mitsubishi, reports say.
The Financial Times posted Saturday night that the discussions were at an
“advanced” stage and could lead to “extensive cooperation”.
The Wall Street Journal said the talks were “wide-ranging” and could
include Renault and Fiat Chrysler “joining large portions of their
businesses”.
However, The New York Times said the discussions were in early stages, the
specifics unclear and “could still collapse”.
Contacted by AFP, neither Renault nor Fiat would comment.
The Financial Times, quoting multiple people informed on the talks, said:
“The agreement may ultimately lead the carmaker (Fiat-Chrysler) to join the
Renault-Nissan-Mitsubishi Alliance in the future,” if Nissan could be won
over.
Such an automaker alliance would become the world’s biggest, a title
Renault-Nissan-Mitsubishi currently vies for with Germany’s Volkswagen.
Renault holds 43 percent of Nissan which in turn owns 15 percent of its
French partner Renault.
The imbalance causes frictions in a relationship that has been tested by
the arrest of former Renault and Nissan chief Carlos Ghosn in Tokyo.
He was bailed for a second time on April 25 and is now preparing for trial
on four charges of financial misconduct ranging from concealing part of his
salary, to using Nissan funds for personal expenses.
The reports did not spell out the level of any involvement by Nissan in
the current discussions, although one FT source said it was absent.
Early this year rumours circulated that Renault was interested in Fiat-
Chrysler after its hopes for a merger with Nissan or even French competitor
PSA faded.
BSS/AFP/HR/1350