France is prepared to consider cutting its 15% stake in Renault SA to help shore up the carmaker’s alliance with Nissan Motor Co., Agence France-Press reported Saturday, citing an interview with Finance Minister Bruno Le Maire.
France is ready to consider reducing its Renault stake if it leads to a “more solid" alliance between the Japanese and French automakers, Le Maire said in an interview with AFP at the Group of 20 finance ministers meeting in Fukuoka, Japan.
Renault should concentrate on forging closer links with Nissan before seeking other alliances, Le Maire said.
Fiat Chrysler Automobiles NV on Thursday abruptly withdrew its offer to combine with Renault after the French carmaker’s board -- on the brink of approving the deal -- postponed a decision for a second time. France, Renault’s biggest shareholder and the most important voice on the board, had made a sudden request for deliberations to be postponed.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.