"The board decided to continue to study with interest the opportunity of such a merger and to extend discussions on the subject," Renault said in a statement. "It will meet again on Wednesday, June 5 at the end of the day," it added.
US-Italian group Fiat Chrysler proposed a "merger of equals" with Renault last week which has been welcomed by financial markets and has been given a conditional green light by the French government.
A merger would be "a real opportunity for the French auto industry," Finance Minister Bruno Le Maire told AFP Friday of a tie-up which would bring together the flagship brands as well as Alfa Romeo, Jeep, Maserati, Dacia and Lada.
'Badly conceived plan'
But Renault already has an alliance with Japan's Nissan and Mitsubishi, and the combined mega-group would be by far the world's biggest, selling some 15 million vehicles, surpassing Volkswagen and Toyota, which sell around 10.6 million each.
Nissan, a long-time Renault partner, fears being sidelined by the deal and its chief executive, Hiroto Saikawa, warned Monday that a merger "would significantly alter the structure of our partner."
Any new combination would require a "fundamental review" of their relationship, said the boss of Nissan, whose 15 percent stake in Renault would be diluted to 7.5 percent under the proposed deal.
Behind the scenes at the Yokohama-based firm, some executives believe the merger talks could further strain relations with Renaul after the arrest in Japan of former CEO Carlos Ghosn, the architect of their alliance.
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