Renault: Fiat Renault

renault: Falling sales in the world's biggest markets China, the U.S. and Europe have brought fresh urgency to consolidate, according to The Japan Times. Fiat and Renault expect their joint synergies to amount to more than 5 billion 5.6 billion coming from areas such as purchasing power. In a separate statement, the French carmaker said its board would meet later in the morning to discuss the proposal. ; The talks come as automakers worldwide face intense pressure to spend heavily on new technologies and adapt to trends such as car-sharing. Together, Renault and Fiat had a combined market value of 32.6 billion 36.5 billion as of Friday. Both Fiat and Renault went through dramatic changes at the top last year after former Fiat chief Sergio Marchionne died and Carlos Ghosn, who was chairman of the Franco-Japanese alliance, was arrested in Tokyo in November over alleged financial misdeeds. Fiat and Renault have moved ahead without the French carmaker's 20-year partner, Nissan Motor Co., and Mitsubishi Motors Corp., the other member of their three-way alliance. (news.financializer.com). As reported in the news.