FCA proposes merger to Renault

(ANSA) - Turin, May 27 - Fiat Chrysler (FCA) has made a merger proposal to Renault as part of a deal that would create one of the main car manufacturers worldwide, the Italian-American carmaker said Monday.
    The French group's board was scheduled to discuss the proposal on Monday, the French company said.
    The plan, which was finalized in overnight talks with Renault, would create five billion euros in estimated annual savings, FCA said.
    The portfolio would cover all segments of the market, from luxury to mainstream, like Maserati and Alfa Romeo, Dacia and Lada and would include Fiat, Renault, Jeep and Ram as well as commercial vehicles, the carmaker noted.
    The deal would create the third-ranked global manufacturer with 8.7 million vehicles sold annually and a strong presence across key regions and markets, FCA said.