Economics
Renault Seeks Billions in State-Backed Loans in Face of Pandemic
- Chairman Senard says loans could amount to 4-5 billion euros
- Carmaker has scrapped dividend, chairman takes pay cut
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Renault SA Chairman Jean-Dominique Senard said the French carmaker is seeking as much as 5 billion euros ($5.5 billion) in government-backed loans to weather the coronavirus pandemic, while dismissing the possibility of nationalization.