Home > France Seeks to Fend Off Blame For FCA-Renault Deal Collapse

Business
France Seeks to Fend Off Blame For FCA-Renault Deal Collapse

Description

According to Reuters, France was battling to defend its business strategy on Thursday after being blamed for damaging a $35 billion-plus merger between carmakers Fiat Chrysler and Renault. Shares in FCA and Renault fell sharply in early trade after FCA pulled out of talks, saying “the political conditions in France do not currently exist for such a combination to proceed successfully.

Added on the 06/06/2019 15:36:05 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • 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.

    06/06/2019 - Wochit
  • Despite Failure, Le Maire Says France Engaged Constructively In FCA-Renault Talks

    According to a report by Reuters, on Thursday, France's finance minister said that following the collapse of merger talks between Fiat Chrysler and Renault that the government had engaged constructively but failed to gain the support of Renault's Japanese partner, Nissan. Bruno Le Maire reportedly said, “An agreement had been reached on three of the four conditions. What remained to be obtained was the explicit support of Nissan." Reuters reports that FCA blamed French politics for scuppering the 35 billion dollar merger proposal. Fiat Chrysler said in a statement, “It has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully."

    06/06/2019 - Wochit
  • Le Maire Says Any Renault Deal That Respects France's Interests Would Be Considered

    According to a report by Reuters, on Thursday, Finance Minister Bruno Le Maire said that the French government is open to tie-ups involving Renault as long as French industrial interests are protected. Le Maire also reportedly said that the government would consider any Renault deal with Fiat that respected the French company's alliance with its Japanese partner Nissan.

    06/06/2019 - Wochit
  • France Hopes 'Door Not Closed' On FCA -Renault Merger

    Automotive news reports French budget minister Gerald Darmanin said he hoped the door had "not closed" on the possibility of a merger between Fiat Chrysler Automobiles and Renault and added France would be happy to re-examine any new proposal from FCA. France's finance minister, Bruno Le Maire, said on Thursday that the French government had engaged constructively but failed to win the support of Renault's Japanese partner, Nissan.

    06/06/2019 - Wochit
  • Major Phone Companies Pledge to Stop Selling Your Real-Time Location Data

    According to the Associated Press, telecom companies AT&T, Sprint, T-Mobile, and Verizon recently stated that they won’t provide their customers’ location data to third-party data brokers. A New York Times report in May touched off a major scandal by describing the ways location data, which all four major carriers in the U.S. share with data brokers like LocationSmart, can be abused. This is a good step forward for these companies to make to help protect their customers data.

    19/06/2018 - Wochit

More videosBusiness

Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
Business

Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24