FCA Corporation stated that the decision is due to the current political situation in France, which does not provide suitable conditions for this kind of merger. The management of the concern placed responsibility for the failure of the negotiations on the French side.
Earlier, information appeared that the board of directors of Renault, following a lengthy meeting, had not reached a consensus regarding a possible merger with Fiat Chrysler. Representatives of the French government, as reported by TASS, requested to postpone the vote to the next board meeting.
French Minister of Economy and Finance Bruno Le Maire explained that there is no need to rush the decision, because, in his words, "we are talking about the formation of a global leader in the automotive industry." Nevertheless, such a pause was deemed unacceptable by FCA.
