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Fiat Chrysler says French politics ended Renault merger

PARIS — Fiat Chrysler abruptly withdrew an offer to merge with French automaker Renault late Wednesday, a shocking reversal of a deal that could have reshaped the global auto industry. The Italian-American automaker blamed its move on France’s government, saying that the country’s political climate would stop the tie-up from being successful. The government owns 15% of Renault and would have had to approve the merger. “It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully,” Fiat Chrysler said in a statement. “FCA will continue to deliver on its commitments through the implementation of its independent strategy.” Officials on each side blamed the ...
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