French government blamed as €33bn deal to create world’s third-largest carmaker stalls
The proposed €33bn (£29bn) merger of Fiat Chrysler and Renault has collapsed after an intervention from the French government, Renault’s biggest shareholder.
Fiat Chrysler, an Italian-American company, withdrew from a 50-50 merger proposal with its French rival after a board meeting on Wednesday. A deal would have created the world’s third-largest carmaker behind Volkswagen and Toyota.