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Fiat Chrysler withdraws proposed merger with Renault

WTKR.com

Email Fiat Chrysler has withdrawn its proposal to merge with French automaker Renault — a deal that would have reshaped the global auto industry and helped the carmakers compete in the race for electric and self-driving vehicles. The company said Wednesday that it “has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.” Earlier in the day, Renault said that the French government had requested its board of directors postpone the vote on the merger. France, which owns 15% of Renault and is the company’s largest shareholder, previously indicated that ...

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