FIRST AIRED: June 6, 2019

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
a thirty five billion dollar automotive merger off I fell over on Wednesday with fiat Chrysler withdrawing its offer to join forces with French automaker Renault the deal if it had gone ahead we have created the world's third biggest one America and according to a statement released on Thursday by fiat Chrysler the deal fell over because of French politics , fiat Chrysler saying quote it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully a source close to red nose board told Reuters that France had sought to delay a decision on the deal in order to win the support of Nissan red nose Japanese alliance partner Paris had pushed Nissan to support the deal and the Japanese partner said it would have stain and that delay pushed fiat Chrysler to pull out Paris %HESITATION it's a fifteen percent stake in Renault and had also pressed fiat Chrysler for guarantees a merger would not cost French jobs and the dividend should be paid to rent %HESITATION shareholders including the government red nose in a separate statement said its own board were unable to make a call on the deal because the French government wants to quite postponed the vote to a later meeting the collapse of the merger is not just a disappointment to investors who had beat up shares in both companies after the deal was proposed in light many it also means the companies will miss out on the benefits of being able to share each other's technology fiat Chrysler for example would have gained access to rent %HESITATION Superia electric vehicle tech helping it to meet mandates zero emissions because and right now I would have gained access to a share of the Italian American companies lucrative jeep sport utility and ram pickup truck brands now it's not clear what the automakers will do to meet the cost of fundamental technology changes happening across the auto industry and eva stricter regulations on emissions