After Merger Debacle French Government Wants To Reduce Stake In Renault

The French government says it is willing to reduce its stake in Renault in an effort to consolidate the car manufacturer’s partnership with Nissan.

Bloomberg notes that, shortly after a proposed merger between Fiat Chrysler Automobiles and Renault fell through, French Finance Minister Bruno Le Maire said the administration is willing to reduce its 15 per cent stake at the automaker.

“We can reduce the state’s stake in Renault’s capital. This is not a problem as long as, at the end of the process, we have a more solid auto sector and a more solid alliance between the two great car manufacturers Nissan and Renault,” Le Maire said.

MDarringer - 6/10/2019 8:47:41 AM

+2 Boost

So the French government fcuks up the FCA/Renault merger and THEN does the one thing it needed to do in the first place. The French are idiots and this is just more proof heaped onto the pile of their idiocy.

PUGPROUD - 6/10/2019 9:18:36 AM

+1 Boost

France throws out this broad sweeping conciliatory statement but until we know the specific price, terms and conditions of them reducing their capital investment I remain highly skeptical. It may be a smoke screen to redirect the pressure and potential blame onto Nissan. The French are shrewd, calculating and conniving. My company had a policy that whenever you went to France on business you never ever left your briefcase and business papers in your hotel room unattended. French intelligence agencies routinely engage in commercial espionage to assist nationally controlled enterprises.

MDarringer - 6/10/2019 10:22:14 PM

0 Boost

Step 1: Call FCA back to the table.
Step 2: Put the headquarters in the USA.
Step 3: France reduces its control by 2/3rds
Step 4: Give Nissan more power
Step 5: Let job cuts happen as they need to.

qwertyfla1 - 6/11/2019 7:06:39 AM

0 Boost

So the French interfere, inserting the typical, superioristic until called out on their BS French attitude (and then they retreat in typical French fashion) which nuked the merger and now they want to offload shares in a sinking ship of which they were the catalyst for? Seems fair. We should of let let Germany keep France...

MDarringer - 6/11/2019 8:17:32 AM

0 Boost

And to think that someone on here believe that President Maricon (sic) is a genius-level economist.

mre30 - 6/11/2019 11:05:10 AM

+1 Boost

What a sh*tshow.

By the way, why doesn't France just cut to the chase and force a merger between Citroen and Renault to get this whole 're-nationalization' of the French auto industry over with once and for all?

Its rare that you can say that Italy did the right thing, but the way Italy handled Fiat was far superior to how France meddles in its companies