Fiat-Chrysler has withdrawn its offer for a merger with Renault in the face of indecision from Renault’s public shareholder. After the inability to anticipate & mitigate the Carlos Ghosn risk, another sign that the French government as a shareholder is on top of things…
FCA Fiat Chrysler Auto: “it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.”
Nissan Motor: “It is not a matter of supporting or opposing the merger but a matter of Renault, our partner and shareholder, becoming a different company.”
Renault: “The Board of Directors was unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote.”
Arcelor-Mittal, Technip-FMC, Alcatel-Lucent-Nokia, Alstom-General Electric, STX-Fincantieri, Alstom-Siemens, etc… Where does it stop ?
Picture credits: Reuters