World Economic News

Renault To Hire Investment Banks To Advise on GM Deal

The French carmaker Renault is hiring two investment banks to advise it on a possible alliance with General Motors, according to the financial press Sept. 6. The announcement, indicating the process of further cartelization of the global auto industry, was made by a Renault spokeswoman, who declined to name the banks. The Financial Times said the French automaker has already selected BNP Paribas. Separately, Carlos Ghosn, CEO of Renault and Nissan, confirmed that both companies are appointing advisory banks.