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Renault chief frustrated by French government over botched merger

Renault chief frustrated by French government over botched merger
Autos
PARIS -- Renault s chairman has expressed his frustration with the French government, a majority shareholder, which he says resisted a merger deal proposed by Fiat Chrysler.

Jean-Dominique Senard told a shareholders meeting in Paris on Wednesday that "I have rarely seen a merger proposal that could give so much positive synergy."

He said that at a board meeting to discuss the plan, everyone approved "with enthusiasm" except one. Board members from Renault s alliance member, Nissan, abstained but were positive.

He said the French government, which is Renault s biggest shareholder, had not shared his analysis of the benefits of the merger. Senard added: "I can frankly say that disappoints me."
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