June 5, 2019 / 11:08 PM / a month ago

Fiat Chrysler withdraws merger offer for Renault

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)

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