May 26, 2019 / 11:58 AM / 20 days ago

Renault's board to meet Monday to discuss tie-up with Fiat Chrysler - Le Figaro

The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg, France, January 10, 2019. REUTERS/Vincent Kessler

PARIS (Reuters) - The board of French car maker Renault will meet on Monday morning at 0800 local time (0600 GMT) to discuss a possible tie-up with rival Fiat Chrysler, French newspaper Le Figaro reported on Sunday.

Sources had told Reuters on Saturday the two car makers were in talks on a comprehensive global tie-up that would help them tackle challenges facing the global car industry.

A spokesman at Renault declined to comment on whether a board meeting will be held on Monday.

Pressure for consolidation among car makers has grown with the challenges posed by electrification, tightening emissions regulations and investment-heavy technologies for connected and autonomous vehicles.

Fiat Chrysler and Renault have a combined market capitalization approaching 33 billion euros ($37 billion).

Reporting by Inti Landauro; Editing by Keith Weir

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