Renault-Fiat merger talks in no haste: finance minister

Source: Xinhua| 2019-06-05 18:53:26|Editor: xuxin
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PARIS, June 5 (Xinhua) -- The French government wants merger talks between carmakers Renault and Fiat Chrysler to progress towards an agreement, but there is no need to rush, French Finance Minister Bruno Le Maire said on Wednesday.

"We want to make the Renault-Fiat merger but it must be done in good conditions. That takes time, let's take the necessary time to do things well," Le Maire told BFMTV news channel.

"It's a large-scale operation, which aims to create a global leader of the automobile, no rush," he said, reiterating that the eventual deal should protect French interests and preserve jobs at home.

Last month, Italian-U.S. auto giant Fiat-Chrysler proposed 50-50 merger with Renault, in which the state owns a 15 percent stake, to create the world's third-biggest automaker and raise more funds to overcome far-reaching technological costs.

France has described the deal as a good opportunity for domestic and European auto industry. But it said it should guarantee jobs and ensures that the state is well-represented on the board of the new entity while preserving Renault's existing alliance with Japanese partner Nissan.

Renault's board is expecting to meet on Wednesday to discuss the conditions of the merger.