RENAULT TO HAVE SOME DEBT CANCELLED BY FRANCE
The French government plans to cancel part
of Renault's debt as part of a strategy of returning the state
car group to financial independence, but will not provide it
with more subsidies, industry ministry sources said.
    The plan, which has been under study for several weeks, is
linked to legislation enabling Regie Nationale des Usines
Renault <RENA.PA> to be converted into a limited company, they
said. This legislation should be ready for parliament in the
next few days, the sources said.
    Renault's debt would be cut to some 40 billion francs from
the December, 1986 level of 56 billion francs, they said.
 Reuter
