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Renault loan still not signed, site closures must be last resort: Le Maire

FILE PHOTO: French Economy and Finance Minister Bruno Le Maire speaks during a presentation of the details for the end of the country's lockdown imposed to curb the spread of the coronavirus disease (COVID-19), at the Hotel Matignon in Paris, France May 7, 2020. Christophe Archambault

PARIS (Reuters) - French Finance Minister Bruno Le Maire on Thursday said that the government had yet to sign off on a planned 5 billion euro ($5.5 billion) loan for Renault RENA.PA, and that the carmaker's site closures and job cuts could only ever be a last resort.

“The closure of a site must only be a last resort,” Le Maire told France 2 television.

French President Emmanuel Macron this week said that the government, which has a 15% stake in Renault, would not sign off on the state loan until management and unions had concluded talks over the company’s French workforce and sites.

Reporting by Sudip Kar-Gupta; Editing by David Goodman

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