July 4, 2019 / 4:48 PM / 17 days ago

French official says 'not aware' of new discussions on Renault, Fiat Chrysler alliance

FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau/File Photo

PARIS (Reuters) - The head of French state holding APE said on Thursday he was “not aware” of any new discussions between Renault (RENA.PA) and Fiat Chrysler (FCHA.MI) over a future alliance.

Martin Vial told France Info radio that Renault’s alliance with Japanese partner Nissan (7201.T) remained a priority and that the state, which is Renault’s biggest shareholder with a 15 percent stake, did not plan to reduce that stake.

Last month, Italian-US carmaker Fiat Chrysler pulled the plug on a proposed merger with Renault, saying negotiations had become “unreasonable” due to political resistance in Paris.

Reporting by Dominique Vidalon; editing by John Irish

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