PARIS/MILAN June 6 (Reuters) - Fiat Chrysler said on Wednesday it was withdrawing its $35 billion merger offer for Renault.
A source close to the French carmaker’s board said FCA took the decision after France sought to delay a decision on the deal.
Renault directors failed to reach a verdict on FCA’s May 27 merger proposal at a board meeting that ran late into Wednesday night, the company said.
The board was “unable to take a decision due to the request expressed by the representatives of the French state to postpone the vote to a later meeting”, Renault said in a statement. (Reporting by Laurence Frost Editing by Bill Rigby)