International Business
From Times Staff and Wire Reports
Renault May Be Up for Sale: The French government said it will hire a bank to advise it on a possible public sale of the state-owned car and truck maker. But it said a decision to hire an adviser does not imply that a decision has been made to sell Renault, the world’s sixth-largest auto maker. “It will elucidate the different possible options for an opening up of Renault’s capital,” Minister of the Economy Edmond Alphandery said in announcing the move. Renault, 20%-owned by Swedish car and truck maker Volvo, is valued at about $8.6 billion by analysts, and several French companies, including defense and publishing group Matra-Hachette, have expressed interest in buying it.
