France prepared to cut Renault stake to shore up deal with Nissan: AFP

June 8, 2019

(Reuters) – French Finance Minister Bruno Le Maire said France is ready to cut its stake in Renault SA in order to shore up Renault’s partnership with Nissan Motor Co, according to an AFP tweet on Saturday.

Le Maire on Thursday had said the French government was open to tie-ups involving Renault as long as French industrial interests were protected, and would consider any Renault deal with Fiat Chrysler that respected the French firm’s alliance with its Japanese partner Nissan.

Fiat on Thursday abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world’s third-biggest automaker.

Renault and Nissan were not immediately available to responde to a request seeking comment

(Reporting by Mekhla Raina in Bengaluru; editing by Richard Pullin)

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