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French official says 'not aware' of new discussions on Renault, Fiat Chrysler alliance

French official says 'not aware' of new discussions on Renault, Fiat Chrysler alliance
FILE PHOTO: The logos of Renault and Fiat carmakers are seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard/File Photo -
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Eric Gaillard(Reuters)
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PARIS (Reuters) – The head of French state holding APE said on Thursday he was “not aware” of any new discussions between Renault <RENA.PA> and Fiat Chrysler <FCHA.MI> over a future alliance.

Martin Vial told France Info radio that Renault’s alliance with Japanese partner Nissan <7201.T> remained a priority and that the state, which is Renault’s biggest shareholder with a 15 percent stake, did not plan to reduce that stake.

Last month, Italian-US carmaker Fiat Chrysler pulled the plug on a proposed merger with Renault, saying negotiations had become “unreasonable” due to political resistance in Paris.

(Reporting by Dominique Vidalon; editing by John Irish)

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