FCA Withdrawals Deal To Merge With Renault
According to Business Insider, the proposed merger of Fiat Chrysler and Renault has collapsed.
In a quick turn of events, the board for Fiat Chrysler Automobiles withdrew their deal due to political pressure from the French government.
The merger would have reduced France's stake in Renault by half, which is currently 15-percent.
Although the French government was involved in negotiations for the merger, President Emmanuel Macron's government pushed too many demands against FCA.