was arrested last November on financial corruption charges, with a number of observers questioning whether that was actually the result of Nissan's desire to gain more control in the three-way partnership.
If anything, said the person closely briefed on the negotiations who spoke with CNBC, Nissan had expressed interest in the deal and the potential benefits to the Japanese automaker. In its original merger proposal, Fiat Chrysler outlined 5 billion euros in potential synergies, 1 billion of that set to accrue to Nissan and Mitsubishi.
"There was a clear, growing realization that this is not an environment in which the proposal can come together," the Fiat Chrysler source said, noting the irony that there remains "a very cordial relationship" between the two companies, and, in particular, between CEOs Manley and Senard. Renault's 66-year-old chief executive is now finding himself "in a very difficult position," said the industry veteran who has been linked to several of the carmakers.
"It's unfortunate this proposal failed so quickly," said Karl Brauer, an analyst with Kelley Blue Book, "though it's better than having it drag on for weeks or months and then fail.
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Smarter than GE. But who isn't....
It's a sad moment. I really enjoyed my Renault and was hoping they'd return to the US market.
french and germans just buy french and german and hold back on global production of really anything right now... they aint buying ours they havent for years.. we dont need em we doin fine
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