June 2, 2020 / 6:12 AM / a month ago

French Finance Minister: Renault loan not signed yet, but should be soon

FILE PHOTO: French Economy and Finance Minister Bruno Le Maire leaves the Elysee Presidential Palace after a weekly cabinet meeting, in Paris, France May 27, 2020 as France eases lockdown measures taken to curb the spread of the coronavirus disease COVID-19. Ludovic Marin/Pool via REUTERS

PARIS (Reuters) - French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro (4.45 billion pounds) loan for carmaker Renault (RENA.PA), though he hoped the loan would be agreed soon.

Le Maire also told RTL radio he expected Renault to be “exemplary” in its talks with unions, regarding the likelihood of job cuts in France, and that the government wanted Renault’s northern France sites to become “centres of excellence”.

On Sunday, Renault Chairman Jean-Dominique Senard said Renault had no plans to close its Maubeuge plant in northern France. Last week, Renault announced 15,000 job cuts globally as part of a major restructuring.

Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens

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