Renault in Talks With Samsung
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French auto maker Renault said it’s in talks to acquire all or part of Samsung Motor Inc. as it seeks to expand its alliance with Nissan Motor Co. in Asia.
Samsung Group confirmed Renault’s statement, saying it’s been in exclusive talks with the French company since Dec. 30. Samsung Motor, by far the smallest of South Korea’s auto makers--capable of making 180,000 cars a year--uses Nissan technology.
Buying the auto maker would give Renault and Nissan a stronger foothold in Asia, a market expected to count for most of the growth in global car sales in coming years.
Renault’s bid to buy Samsung Motor comes as General Motors Corp. and Ford Motor Co., the world’s top two auto makers, gear up for a three-way tussle with Hyundai Motor Co. to buy all or part of debt-ridden Daewoo Motor Co., South Korea’s No. 2 auto producer.
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