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Renault & Daimler shares rise on tie-up reports

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Renault & Daimler shares rise on tie-up reports

Renault & Daimler shares rise on tie-up reports
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Shares in France’s Renault and Germany’s Daimler rose on Tuesday, following reports that they were in talks about each acquiring shares in the other as part of a possible longer-term partnership.

The two were already discussing working together to cut costs, share technology and build economies of scale in response to the industry’s recession

Neither Renault nor Daimler would comment on the reports.