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BREAKING NEWS

BREAKING NEWS

France did not come out well in FCA-Renault deal - Italy's Di Maio

France did not come out well in FCA-Renault deal - Italy's Di Maio
FILE PHOTO: The logos of Renault and Fiat carmakers are seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard -
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Eric Gaillard(Reuters)
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MILAN (Reuters) – Italy’s Industry Minister Luigi Di Maio blamed the French state for derailing merger talks between Fiat Chrysler and rival Renault saying Paris had come out poorly in the situation.

“State meddling is what caused the deal to fail and Renault wasn’t happy with that. It was a market operation that could have helped Italy and Italians,” Di Maio, who is also deputy prime minister, told Radio 24.

“I believe France cut a poor figure over a deal which was a market operation for which we showed respect.

“Despite being in touch with Fiat Chrysler and its top executives, we showed respect for the company and its negotiations.”

(Reporting by Valentina Za; editing by Jason Neely)

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