Fiat Chrysler has made a "transformative" merger proposal to Renault, the Italian-American carmaker said, in a deal that would create a new third-ranked global manufacturer.
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It could take more than one year for Fiat Chrysler and Renault to finalize a proposed merger of the two companies, FCA group"s chief executive told employees on Monday in a letter seen by Reuters.
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Nasdaq withdrew its offer for Oslo Bors on Monday, giving pan-European exchange Euronext free rein to pursue its bid for the Norwegian stock market operator after a five-month battle.
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American-Italian carmaker Fiat Chrysler has made an all share merger proposal to French rival Renault as part of a new wave of auto industry consolidation.
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Peugeot-maker PSA"s shares fell on Monday, which some analysts put down to the fact that Fiat had chosen to seek a merger with Renault rather than PSA.
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Norway"s DNB will meet with Euronext before deciding whether to sell its 20% stake in Oslo Bors VPS to the pan-European stock market operator, the bank said on Monday.
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The French government is looking "reasonably favorably" on a proposed merger deal between Italian carmaker Fiat and French peer Renault, said government spokeswoman Sibeth Ndiaye on Monday.
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Asia stocks inched up but remained near four-month lows on Monday amid concerns about U.S.-China tensions while the euro stayed in a narrow range after the weekend"s European Parliament elections.
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