French Minister Sees Nissan's Consent Vital for Renault-FCA Merger
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Paris, June 5 (Jiji Press)--French Economy and Finance Minister Bruno Le Maire said Wednesday that a possible business integration between French auto giant Renault SA and Fiat Chrysler Automobiles NV should not exclude Nissan Motor Co. <7201>, a Japanese alliance partner of Renault.
A condition for the integration of Renault and the Italian-U.S. automaker is that the French company's Japanese partner will not be excluded, he told reporters in Paris, adding that Nissan's consent is required for the move.
Le Maire reiterated that the integration with FCA would need to be carried out under the framework of the Renault-Nissan alliance, which also includes Mitsubishi Motors Corp. <7211>, a Japanese automaker.
At the moment, it is unclear whether Nissan is for or against the integration, he added.
In a statement released on Monday, Nissan President Hiroto Saikawa said that the integration "would significantly alter" the structure of Renault and "would require a fundamental review of the existing relationship between Nissan and Renault."
[Copyright The Jiji Press, Ltd.]