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Minister admits Renault 'may disappear'
May 25 France's finance minister has admitted Renault may "disappear" as a result of the corona crisis. It was reported last week that the government, which owns a 15 percent stake in the French carmaker, will step in with a EUR 5 billion loan to rescue the embattled marque. But minister Bruno Le Maire has told Europe 1 radio that the loan will not be granted until "we know what Renault's strategy is". He admitted that Renault is in "serious financial difficulty", confirming: "Yes, Renault may disappear." Renault has organised a press conference for Wednesday 27 May, and there are fears and rumours that a severe restructuring plan could involve the...
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5y ago from OneStopStrategy.com
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