Renault and Nissan representatives were meeting outside Tokyo on Wednesday along with officials from the third partner in their alliance, Mitsubishi MotorsTOKYO: Renault officials on Wednesday sought to reassure the firm's alliance partner Nissan over a possible tie-up between the French automaker and Fiat Chrysler, which could up-end the auto industry. Renault and Nissan representatives were meeting outside Tokyo on Wednesday along with officials from the third partner in their alliance, Mitsubishi Motors. And the partnership was shaken further this week by news that Renault is studying "with interest" a 50-50 merger proposal with Fiat Chrysler (FCA), a prospect that took Nissan by surprise. The merger with Fiat Chrysler is backed by the French government, which owns a 15 percent stake in Renault, and Italy's deputy premier also enthusiastically endorsed the deal. Renault holds a 43 percent stake in Nissan, which in turn owns 15 percent of its French partner and would not be able to block it from proceeding with the Fiat Chrysler merger.

Source: Bangkok Post May 29, 2019 06:45 UTC