PARIS -- Renault's board has adjourned a meeting to examine the merger proposal pitched last week by Fiat Chrysler Automobiles until Wednesday afternoon.
"The board of directors has decided to continue to study with interest the opportunity of such a combination and to extend the discussions on this subject," Renault's board said in a statement at the end of a three-hour meeting on Tuesday.
The next meeting is scheduled for the end of Wednesday.
Fiat Chrysler's proposal last week for a 50-50 combination is designed to help the companies add scale, share costs and boost resources for tackling an expensive shift to electrification and autonomous driving.
Longtime Renault partner Nissan has put up some resistance, while Renault's most powerful shareholder -- the French government -- has outlined a list of demands on jobs and a board seat.
Bloomberg contributed to this report
