AUTOS
From Times Staff and Wire Reports
Swedish TV Reports Volvo, Renault Merger: The Swedish and French car makers will merge before this summer, Swedish television reported. The breakthrough in ongoing negotiations about a possible merger came when Pierre Beregovoy replaced Edith Cresson as French prime minister. Beregovoy favored the deal, while Cresson did not, the report said. Volvo’s truck and car divisions would merge with their equivalents in Renault and be controlled by a holding company. The French state would own just over half of the holding company and Volvo shareholders just under half, the report said. Volvo officials could not immediately be reached for comment.
