Rumours of another merger popped up over the weekend
Deal could have created world’s fourth-largest automaker
The chairman of Stellantis has denied that the automaker is planning a merger. The announcement came after speculation that the automaker was in talks for a possible merger with Renault.
“There is no plan under consideration regarding merger operations with other manufacturers,” said John Elkann, via Reuters.
Reports first surfaced of the possible merger in the Italian newspaper Il Messaggero. The paper reported that the French government was looking at a plan for the two to merge. The French government is Renault’s largest shareholder. It also holds a stake in Stellantis, which was formed when Fiat Chrysler merged with the PSA Group, which owned Peugeot, Citroen, and others.
The deal, said Reuters, would face antitrust challenges. There would also likely be issues with job losses resulting from all of the major French automaker brands being part of the same company.
The report also says that Stellantis has been under fire from the Italian government for acting against that country’s interests. The country’s minister of industry raised the possibility of Italy taking a stake in Stellantis to help add a larger influence in company operations.
