Italy eyes Renault-Fiat stake as France backs deal

Italy would be open to taking a stake in the proposed merger between Renault and Fiat-Chrysler, as long as the deal triggers economic benefits for the country, a government undersecretary said.

“Our government is open to investment, provided that this brings a positive impact in terms of economic growth and jobs for our citizens,” the rightist League’s Michele Geraci, who works at the economic development ministry, said. The merger would see the French state’s stake halved to 7.5%, which “in principle is not against our view,” Mr Geraci said.