Renault and Nissan leave the door open for a three-way marriage with Fiat


We thought the business would certainly have been in the water since the first days of June, but it finds news in the middle of the summer. Early August according to the Wall Street Journal, Renault is in full discussion with its Nissan partner to evaluate the participation of each of the two alliance between the two manufacturers. This negotiation would be a condition for a reopening of the talks with Fiat-Chrysler, with a view to a three-party marriage. Coincidence or coincidence, the Fiat Chrysler boss, Mike Manley, estimates that Monday "The industrial logic [of this merger] still exists" in an interview with the British daily Financial times. A call from the foot could not be clearer.

To also readSenard, a solid spare tire for Renault

Flashback for those who have missed the first episodes. On January 24, as soon as he became the boss of Renault after Carlos Ghosn was driven out of tax evasion, the new boss, Jean-Dominique Senard, set the goal of opening a new era for the Renault-Renault alliance. Nissan. He starts serious trading with Fiat Chrysler looking for a partner because a little isolated in the auto industry in constant concentration. Financial markets as employees think the case in the pocket. At the last minute, the French state, Renault's largest shareholder, hesitates for additional delays. Fiat's main shareholder, John Elkann, takes umbrage and breaks the negotiations with a simple text message. The leaders of Renault then get a heavy blow to the head.


A few days later, at the general meeting of shareholders of the diamond firm, Jean-Dominique Senard, still known for his reluctance, broke the Minister of Economy Bruno Le Maire, representative of the shareholder of the state: "This is the first time that we had the opportunity to make a European champion if we regret that there is not one." And the battle came to the attention of the minister: "I'm not used to being like a fungus, nice but stupid." The person, surprised by such an indictment, plans to hand over Senard before changing his mind. Since, according to information from releasethe two men declared themselves between four eyes and reconciled. But the discussions between the builders seemed to have stopped.

To also readRenault-Fiat: a three-way marriage with Nissan otherwise nothing

It is not like that. Nissan, whose Renault owns 43% of the capital, would be beneficial in reducing the French manufacturer's interest. Especially since the Japanese are holding him, only 15% of Renault and without voting rights at the shareholders' meeting. If the two find an agreement, the door would open much more for Fiat and thus form a much larger set to compete with the other two heavyweights of the car, Toyota and Volkswagen. However, this configuration requires the approval of the French state, with 15% of Renault's capital. Given the failure of this spring, the discussions between Bercy and Boulogne-Billancourt, where the Renault headquarters are, will only be more sensitive and decisive.

Franck Bouaziz