Renault chief frustrated by French government over botched merger
|CTVnews 12 Jun 2019 at 09:44|
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."