Fiat Chrysler scrapped the deal after France sought to delay a decision on the deal in order to win the support of Nissan Motor Co , Renault’s Japanese alliance partner.
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.” It is not clear what the two companies will do next to tackle the costs of far-reaching technological and regulatory changes. Fiat Chrysler had held inconclusive talks with France’s PSA Group, which also has the French government as a shareholder.
But people familiar with the situation said last week Nissan executives felt blindsided by the merger proposal. A Nissan spokesman had no immediate comment.
Just gotta love that French arrogance !
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