FCA Renault merger proposal has merits

An European industrial giant in Europe bodes well for the bloc.

On Monday, Sibeth Ndiaye, a spokeswoman for the French government stated, the government is looking “reasonably favorably” on a proposed merger deal between Italian carmaker Fiat and France’s Renault.

“It’s a project that we are looking on in a reasonably favorable light,” said Ndiaye to BFM TV.

“Of course we have to look at the conditions under which the deal will be done. It is a discussion we’ll have with Renault as a shareholder,” she said while adding, it was good for Europe to have European industrial “giants.”

The French government is Renault’s biggest shareholder with a stake of 15%.

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