Finance Minister Bruno Le Maire said France is willing to reduce its state-owned stake in Renault SA to consolidate Renault's partnership with Nissan Motor Corporation, Agence France-Presse reported on Saturday.
Bruno Le Maire said Paris, which owns 15 percent of Renault, may consider cutting its stake if it leads to a "stronger" alliance between Japanese and French firms, the French news agency reported citing an interview with the minister .
“We can reduce the state's stake in Renault. It is not a problem if at the end of the process we have a more solid automotive sector and a stronger alliance between the two great car manufacturers - Nissan and Renault, ”he said.
Bruno Le Maire has previously stated that the French government is open to ties with Renault, provided French industrial interests are protected, and will consider any agreement between Renault and Fiat-Chrysler that respects the French firm's alliance with Japanese partner Nissan.
Fiat on Thursday turned down Renault's $ 35 billion merger offer, accusing the French government of disrupting a landmark deal to create the world's third-largest auto maker, after Japan's Toyota Motor and German Volkswagen.
