Edition:
India

Fiat Chrysler says conditions in France not in place for merger with Renault


Thursday, 6 Jun 2019 

June 6 (Reuters) - Fiat Chrysler says::IT HAS RESOLVED TO WITHDRAW WITH IMMEDIATE EFFECT ITS MERGER PROPOSAL MADE TO RENAULT..IT REMAINS FIRMLY CONVINCED OF THE COMPELLING, TRANSFORMATIONAL RATIONALE OF THE PROPOSAL.IT HAS BECOME CLEAR THAT THE POLITICAL CONDITIONS IN FRANCE DO NOT CURRENTLY EXIST FOR SUCH A COMBINATION TO PROCEED SUCCESSFULLY.IT WILL CONTINUE TO DELIVER ON ITS COMMITMENTS THROUGH THE IMPLEMENTATION OF ITS INDEPENDENT STRATEGY.EXPRESSES SINCERE THANKS TO RENAULT, ITS CHAIRMAN AND CEO, AND ALSO TO THE ALLIANCE PARTNERS AT NISSAN MOTOR AND MITSUBISHI.