Mexican Media Brands
France Vows to Cut Stake in Renault
The French government is “not far” from reducing its stake in Renault SA to its former 15% from the current 19.7%, according to Economy Minister Emmanuel Macron.
#economics
Share
The French government is “not far” from reducing its stake in Renault SA to its former 15% from the current 19.7%, according to Economy Minister Emmanuel Macron.
The state raised its holding in April in a successful bid to force Renault to accept a new law that next spring will give long-term shareholders—including the government—double votes.
The state said at the the time it intended to quickly return to its traditional stake. Macron tells Europe 1 radio the government will do so as soon as Renault’s stock price improves enough to enable a breakeven sale of the excess shares.
He also reiterates that France opposes any change in Renault’s alliance with Nissan. Renault’s board reportedly has proposed multiple schemes to give Nissan voting rights within the partnership, including a full merger. But Macron says combining the companies is “not on the agenda.”
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.