The French government holds a 15% stake in Renault and has set onerous conditions on any proposed merger. – EPA pic, June 6, 2019.
ITALIAN-AMERICAN carmaker Fiat Chrysler said today it had withdrawn a proposal for a merger with Renault, saying it would be unable to reach an agreement with the French government. Fiat Chrysler “remains firmly convinced” of the interest of its offer but “political conditions do not currently exist in France to carry out such an arrangement”, it said in a statement.
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