Renault's board to meet Monday to discuss tie-up with Fiat Chrysler - Le Figaro
Reuters
Published May 26, 2019 13:30
Renault's board to meet Monday to discuss tie-up with Fiat Chrysler - Le Figaro
PARIS (Reuters) - The board of French car maker Renault (PA:RENA) will meet on Monday morning at 0800 local time (0600 GMT) to discuss a possible tie-up with rival Fiat Chrysler, French newspaper Le Figaro reported on Sunday.
Sources had told Reuters on Saturday the two car makers were in talks on a comprehensive global tie-up that would help them tackle challenges facing the global car industry.
A spokesman at Renault declined to comment on whether a board meeting will be held on Monday.
Pressure for consolidation among car makers has grown with the challenges posed by electrification, tightening emissions regulations and investment-heavy technologies for connected and autonomous vehicles.
Fiat Chrysler and Renault have a combined market capitalization approaching 33 billion euros ($37 billion).
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Written By: Reuters
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