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Fiat Chrysler withdraws merger offer for Renault, blames French politics

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Fiat Chrysler withdraws its US$35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal.

The Italian-American automaker withdrew its merger offer following France’s delay of the resolution on the deal.

French government officials had pushed for Nissan to support the merger. Nissan had said it would abstain. Renault, in a separate statement, said its board was “unable to take a decision due to the request expressed by the representatives of the French state to postpone the vote to a later meeting.” Renault would have had a share of the Italian-American company’s lucrative Jeep sport utility vehicle and RAM pickup truck franchises.

 

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