Renault and Fiat Chrysler stuck over merger terms: Report

PARIS: Talks between Fiat Chrysler and Renault have hit a roadblock over the financial terms of the proposed merger between the Italian-US and French carmakers, the French business daily Les Echos reported online on Thursday , citing sources close to Fiat Chrysler.

Meanwhile, the daily said Renault is unhappy as the offer is based on its share price on May 24, the day before the offer was announced, or €51.70.Renault's share price has been punished since the arrest last November of its former chief executive Carlos Ghosn. Before then it rarely fell below 70 euros per share."These type of offers are certainly negotiable," said that source.

An AFP source close to FCA said"the offer is balanced in terms of valuation, governance and industrial strength."

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