Italy, France did not discuss Rome buying Stellantis stake

Italy’s industry minister said he and France’s Bruno Le Maire had not discussed the idea of Rome buying a stake in carmaker Stellantis at a meeting on Friday.

Stellantis was formed at the beginning of this year through the merger of Fiat Chrysler and France’s PSA.

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

In January, Italy’s former Deputy Economy Minister Antonio Misiani, part of Giuseppe Conte’s government, said the idea of Italy taking a stake should not be seen as taboo.

In February a new government, led by former ECB head Mario Draghi, was formed. Misiani is no longer in his position.

“We haven’t discussed the possibility of the (Italian) state’s entrance in Stellantis,” Industry Minister Giancarlo Giorgetti told a joint media conference.

Le Maire said Stellantis was a private company.

“It’s a wonderful industrial operation, and a sign of cooperation and willingness of Italy and France to work together,” he said.