The company said Wednesday that it"has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."Earlier in the day, Renault indicated the French government requested its board of directors postpone the vote on the merger. France, which owns 15% of Renault, previously indicated that it would support a merger if the companies protect French jobs and auto plants.Renault could not be reached for comment Wednesday evening.
But that alliance was put under extreme pressure when Renault's Chairman and CEO Carlos Ghosn was arrested in Japan last year, accused of improprieties in his pay package from Nissan.Nissan declined to comment late Wednesday on Fiat Chrysler's withdrawal. Nissan, Renault and Mitsubishi Motors together employ more than 470,000 people in nearly 200 countries. They sold more than 10.7 million cars worldwide in 2017.
Also a combination of three worse auto manufactures for reliability and build quality. Match made in heaven.
Renault and Chrysler are both garbage.
Two turkeys would not have made an eagle. fiat Groupe_Renault
Crooked leadership!
Wonder of wonders: another CNN attempt at airing bad news actually trumpets good news!
I called this told you Trump's tariff's would torpedo this deal.
We need electric cars!
Chrysler sucks anyhow.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Latest: FCA withdraws merger offer with RenaultPARIS (AP) — The Latest on the potential merger of carmakers Renault and Fiat Chrysler (all times local): 1 a.m. Fiat Chrysler says it has withdrawn an offer to merge with French... horacioalonso16 Fiat and Renault is a merger not seen since Kmart and Sears. Why? I can pretend I have three cars if that was a the case! FIAT-CHRYSLER-RENAULT
Source: AP - 🏆 728. / 51 Read more »
Fiat Chrysler withdraws merger proposal for RenaultFiat Chrysler is reportedly withdrawing its merger proposal for Renault
Source: CNBC - 🏆 12. / 72 Read more »
Fiat Chrysler Withdraws Merger Offer for RenaultFiat Chrysler has withdrawn its proposal to merge with Renault after the French auto maker’s alliance partner, Nissan Motor, refused to back the deal. So the world’s largest manufacturer of unwanted cars ain’t gonna happen? Less than a week after they offered it? Somebody must have bought a ton of options the past days. Excellente nouvelle, Renault n’aurait jamais dû considérer une offre aussi ridicule
Source: WSJ - 🏆 98. / 63 Read more »
FCA, Renault face tall odds delivering on cost-cutting promises in mergerFiat Chrysler Automobiles NV and Renault SA promise huge savings from a mega-mer... The quality of the merger depends on the operation of the quality of the borrowing and the currency of the leadership statements of the acquisition systems for the labor supply and the quality of the joining of the authorized forces The merger is about survival in a post-SUV, post $5 per gallon America. The cost-cutting promises are to placate Wall Street weirdos who can’t see past next quarter.
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive: FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarante... Fusion de Renault avec Fiat Chrysler, vers une nouvelle affaire Alstom ? Macron and his clique are quick to sell out French industry Y a 2 jours c’était non négociable, à prendre ou à laisser. La réalité c’est qu’un deal est vital à la survie de FCA, tandis que Renault n’a que très peu d’intérêt à accepter la mauvaise proposition de FCA en l’état
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive: FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarante... FCAR? Chrefic? RenoFiChry? NatalyaPierce15 Bonjour!
Source: Reuters - 🏆 2. / 97 Read more »