France can cut its stake in Renault to make way for Nissan alliance

John MacDougall/AFP

French Finance Minister Bruno Le Maire says the country is prepared to reduce its 15% stake if it led to a "more solid" auto sector between the Japanese and French firms.

Le Maire had said the French government was open to tie-ups as long as the French industrial interests were protected.

Last week Fiat Chrysler blamed French politics for the breakdown of its $35 billion merger offer for Renault, in what would have been a landmark deal to create the world's third-biggest automaker behind Japan's Toyota Motor Corp and Germany's Volkswagen.

Reuters sources reported that the French government had welcomed the plan, but pushed for a series of guarantees and concessions that pushed FCA over the edge.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 11:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.


On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.


    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!