Wednesday, June 26, 2019
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Renault and Fiat Chrysler discuss a merger that would create the world's leading car

[Article updated at 16:15]

New major recomposition of the European and world automotive landscape in sight. According to Wall Street Journal and the Financial Times, Fiat Chrysler and Renault are engaged in a merger discussion, which could take the form of an FCA integration into the Renault-Nissan-Mitsubishi alliance.

"Fiat Chrysler is in advanced discussions to build strong relationships with Renault, as the two automakers seek to join forces to address the structural challenges facing the auto industry, according to multiple informed sources of the record," writes Financial Times.

The merger, which would be capital-intensive, would be major at the sector level and would make the new entity the world leader in the automotive industry, by far ahead of German Volkswagen. Fiat Chrysler, listed in Milan and New York, has a market capitalization of 17.7 billion euros and Renault nearly 15 billion euros.

An announcement, bringing "concrete details, although preliminary", could intervene as of Monday according to Reuters.The board of directors of Renault would be convened this Monday morning at 8 o'clock, according to Le Figaro.

Acceleration since the arrest of Ghosn

According to the Wall Street Journal, Fiat would have accelerated the talks after the arrest of Carlos Ghosn. The builder also reportedly had discussions with PSA.

Discussions are underway and could still fail, convince Nissan announcing complicated reports the FT. As a reminder, Renault owns 43% of Nissan, which in turn owns 15% of Renault, but without the right to vote. Renault and FCA, contacted by the FT, did not wish to comment.

Numerous speculations surround Fiat-Chrysler, since the brutal death of its historical boss Sergio Marchionne last year. Earlier this year, rumors of the press had already evoked an interest from Renault and the other French manufacturer, PSA.

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