Italy and France have not discussed Rome’s purchase of Stellantis stake: minister

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Italy and France have not discussed Rome's purchase of Stellantis stake: minister


FILE PHOTO: A view shows the Stellantis logo at the entrance to the company’s plant in Hordain, France, March 3, 2021. REUTERS / Pascal Rossignol

ROME (Reuters) – Italy’s Industry Minister said he and Frenchman Bruno Le Maire had not discussed the idea of ​​Rome buying a stake in automaker Stellantis in a meeting on Friday.

Stellantis was created at the beginning of this year by the merger of Fiat Chrysler and PSA in France.

The French government, a former investor in PSA, has a 5.7% stake.

In January, former Italian Deputy Economy Minister Antonio Misiani, a member of Giuseppe Conte’s government, said the idea of ​​Italy’s participation should not be considered taboo.

In February, a new government, headed by former ECB chief Mario Draghi, was formed. Misiani is no longer in her place.

“We have not discussed the possibility of the entry of the (Italian) state into Stellantis,” Industry Minister Giancarlo Giorgetti said at a joint press conference.

The Mayor declared that Stellantis was a private company.

“It is a wonderful industrial operation, and a sign of cooperation and the will of Italy and France to work together,” he said.

Report by Giuseppe Fonte; written by Giulio Piovaccari; edited by Giulia Segreti and Jason Neely

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