Renault in talks to buy Moroccan car assembler

Newswire

RABAT, July 23 (Reuters) - French car maker Renault said on Wednesday it is in talks to buy the 38 percent stake the Moroccan state owns in local car assembler Somaca. The operation would help Renault create a North African hub for exports to the region, to sub-Saharan Africa and even to southern Europe, industry sources in Morocco said. "We are in negotiations with the government over the 38 percent it has put up for sale," a Renault spokesman said in Paris. He said the company hoped ...

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