[ad_1]
Date created:
Fukuoka (Japan) (AFP)
France is ready to consider reducing its stake in Renault to consolidate the alliance of the manufacturer with Nissan, said Saturday the Minister of Finance, Bruno Mayor.
He was speaking in Japan after the Italian-American car manufacturer Fiat Chrysler ended the planned merger with Renault, saying the negotiations had become "unreasonable" because of political resistance in Paris.
In an interview with AFP on the sidelines of the G20 finance ministers' meeting in Japan, The Mayor said Paris could consider cutting the state's 15% stake in Renault if that led to to a "stronger" alliance between Japanese and French companies.
"We can reduce the state's stake in Renault's capital, which is not a problem until, at the end of the process, we have a stronger automotive sector and a stronger alliance between the two." two major car manufacturers Nissan and Renault, "he told AFP.
Last week, FCA stunned the world of automobiles by proposing an "equal merger" with Renault, which together with its Japanese partners Nissan and Mitsubishi Motors, would create a global automotive giant.
The combined group would have been by far the largest in the world, with total sales of some 15 million vehicles, compared to both Volkswagen and Toyota, which sell about 10.6 million pieces.
But the deal suddenly collapsed Thursday, FCA accusing the city of Paris.
"It has become clear that the political conditions in France do not currently exist for such a combination to unfold successfully," FCA said in a statement.
The Mayor said Renault should focus on strengthening its ties with its Japanese partner Nissan before looking for other alliances.
Things need to be done "in the right order … First, the alliance (between Nissan and Renault) should be consolidated, then consolidation (more generally) and not one after l & # 39; other. "
"Otherwise, any risk of collapsing like a house of cards," he warned.
The minister said it would be up to the bosses of Renault and Nissan to decide how to move the alliance forward, with relations between the two firms being strained after the start. brutal arrest of former boss Carlos Ghosn.
Renault insists on a complete merger between the two men, but the Nissan project is deeply skeptical.
The reactions of the French unions on Saturday were varied.
"The government behaves like the agent of the big shareholders, favoring short-term profits to the detriment of the country's interests," said Fabien Gache, CGT union.
Reducing the share of the state in Renault, is abandoning its responsibilities in the country's automotive industry, he said.
Franck Daout of the CFDT union said he supported a tripartite alliance between Renault, Nissan and the Japanese Mitsubishi – but not between Nissan and Renault before the alliance reached a "safe and sustainable maturity" ".
anb-ric / jj / har
? AFP 2019
Source link
