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Renault's board to meet Monday to discuss tie-up with Fiat Chrysler - Le Figaro

Published 26/05/2019, 13:30
Updated 26/05/2019, 13:30
© Reuters. The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg

© Reuters. The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg

PARIS (Reuters) - The board of French car maker Renault (PA:RENA) will meet on Monday morning at 0800 local time (0600 GMT) to discuss a possible tie-up with rival Fiat Chrysler, French newspaper Le Figaro reported on Sunday.

Sources had told Reuters on Saturday the two car makers were in talks on a comprehensive global tie-up that would help them tackle challenges facing the global car industry.

A spokesman at Renault declined to comment on whether a board meeting will be held on Monday.

Pressure for consolidation among car makers has grown with the challenges posed by electrification, tightening emissions regulations and investment-heavy technologies for connected and autonomous vehicles.

© Reuters. The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg

Fiat Chrysler and Renault have a combined market capitalization approaching 33 billion euros ($37 billion).

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