Japan Ministry Says It Had No Role in Failed Renault-Fiat Talks
Japan Ministry Says It Had No Role in Failed Renault-Fiat Talks
(Bloomberg) -- Japan’s trade ministry said Wednesday it didn’t play a role in the breakdown of merger talks between Renault SA and Fiat Chrysler Automobiles NV earlier this month.
Bloomberg reported on June 21 that the Japanese government signaled its misgivings over the deal to the French government. That led France -- Renault’s most powerful shareholder -- to seek a pause in the talks for more time to win Nissan Motor Co.’s support, provoking Fiat to withdraw its offer on June 6, Bloomberg reported, citing people familiar with the matter.
Futoshi Kono, director of the automobile division at the Ministry of Economy, Trade and Industry, called the report "groundless." He declined to comment further.
To contact the reporter on this story: Kazunori Takada in Tokyo at ktakada17@bloomberg.net
To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net
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