Fiat Chrysler (NYSE:FCAU) – Renault (EPA:RNO) merger may require slashed Nissan stake
- Fiat Chrysler (NYSE:FCAU) and Renault SA (EPA:RNO) are looking for ways to revive their failed merger attempt.
- An exclusive Reuters report revealed that the two automakers are hoping to convince Nissan Motor Co Ltd to approve the merger.
Sources familiar with the matter confirmed that Nissan may ask Renault to reduce its shareholding in the Japanese automaker in order to approve the deal.
John Elkann, Fiat Chrysler’s chairman withdrew the merger offer last week after the French government postponed a Renault board meeting to discuss the proposal.
The French government wanted to get Nissan’s support before proceeding with a vote given the frayed relationship between Renault and Nissan.