Renault-Fiat merger is abandoned, pretty much out of the blue

So-called mergers of equals are never easy, and this one exposed distrust among all parties, including the French governmentWell that was abrupt.

So-called mergers of equals are never easy, as the epic falling out at the Franco-Italian eyewear producer EssilorLuxottica makes painfully clear. And Renault? The merger discussions have exposed just how little investors think of the French group. Subtracting its stake in Nissan, its cash, and other investments, shareholders accord no value whatsoever to Renault’s car-making operations. That’s embarrassing, to put it mildly, and Senard will be under even more pressure to change the stock market’s view.

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