Renault delays decision on Fiat Chrysler marriage proposal

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Renault delays decision on Fiat Chrysler merger after new criticism emerges

The deal still looks likely, but faced new criticism Tuesday from Renault's leading union and questions from its Japanese alliance partner Nissan. The French government is also putting conditions on the deal.

Saikawa said in a statement that the Renault-Fiat Chrysler deal would "significantly alter" the structure of Nissan's longtime partnership with Renault, and Nissan would analyze its contractual relationships to protect the company's interests. But Nissan wasn't consulted on the potential deal, and had resisted Ghosn's idea of a full merger with Renault before his arrest. Ghosn denies accusations of financial wrongdoing.

A CGT statement Tuesday called the merger idea a "gift to the Agnelli family" that is Fiat's leading shareholder, arguing that Renault is the stronger company and that the deal would give away Renault's more advanced electric car technology without gaining anything comparable in exchange.

 

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