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Renault shares rise on media talk over Stellantis combination

2024.02.05 04:09


© Reuters. FILE PHOTO: A brand new Renault Twingo electrical automobile is unveiled throughout Renault Group capital market day for its new electrical car unit Ampere, in Paris, France, November 15, 2023. REUTERS/Gonzalo Fuentes/File Photo

MILAN (Reuters) – Shares in French carmaker Renault (EPA:) rose greater than 4% on Monday, with merchants citing media hypothesis over a possible combination with rival Stellantis (NYSE:).

Citing unnamed monetary sources, Italian each day Il Messaggero reported on Sunday that France is contemplating a merger between the 2 to strengthen its grip on the sector and counter Chinese and German competitors.

Stellantis stated it will not remark on the “the groundless speculation on Il Messaggero”.

Equita analysts stated such a deal would face clear antitrust obstacles, together with social points as a result of duplications of amenities in France.

Stellantis shares fell 0.2%.

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