Salvini Says Italian State Could Help Fiat Seal Renault Merger

(Bloomberg) -- The Italian government could have a role to play in helping Fiat Chrysler Automobiles NV complete its proposed merger with Renault SA, according to Deputy Prime Minister Matteo Salvini.

Fresh from a resounding victory in Sunday’s European parliamentary elections, Salvini endorsed the Franco-Italian plan to create the world’s third-biggest carmaker.

"It seems to me a brilliant deal, that I hope will be finalized," Salvini said during a press conference in Rome. Asked if the government might take a stake in the new company, he said: "If Italy is required to have an institutional presence, that would be absolutely appropriate."

Fiat said Monday that a deal with Renault would be structured as a 50-50 ownership through a Dutch holding company. Renault shareholders, including the French government, would get an implied premium of about 10%.

Earlier in the day, Salvini said that he trusts the deal “will safeguard every job in this country.”

To contact the reporter on this story: Chiara Albanese in Rome at calbanese10@bloomberg.net

To contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Ben Sills, Flavia Krause-Jackson

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