Fiat Chrysler merger offer to Renault stalls
Warning: Undefined variable $banSource in /var/www/motioncars/wp-content/themes/Motioncars/single.php on line 53
June 07,2019
Warning: Undefined variable $related in /var/www/motioncars/wp-content/themes/Motioncars/functions.php on line 346
Production line at Fiat’s Belo Horizonte plant
THE board of Fiat Chrysler Automobiles (FCA) has withdrawn, “with immediate effect,” its $35 billion merger proposal to Renault.
A source close to the French carmaker’s board said FCA took the decision after France sought to delay a decision on the deal.
In a statement released on its media site, FCA said “it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully,” referring to the proposed merger.
Renault directors failed to reach a verdict on FCA’s May 27 merger proposal at a board meeting, the company said.
The 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 said in a statement.
In its statement FCA thanked Renault and alliance partners Nissan and Mitsubishi Motors “for their constructive engagement on all aspects of FCA’s proposal.” With a report from Reuters
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
Warning: include(/var/www/motioncars/inq2014/crowdylanding.php): Failed to open stream: No such file or directory in /var/www/motioncars/wp-content/themes/Motioncars/tpl2018/sidebar.php on line 82
Warning: include(): Failed opening '/var/www/motioncars/inq2014/crowdylanding.php' for inclusion (include_path='.:/usr/share/php') in /var/www/motioncars/wp-content/themes/Motioncars/tpl2018/sidebar.php on line 82
