Italian-US auto giant Fiat Chrysler presents merger proposal to France's Renault to create world's third largest automaker
The Italian-US carmaker"has today delivered a non-binding letter to the Board of Groupe Renault proposing a combination of their respective businesses as a 50/50 merger", statement says.
Italian-US auto giant Fiat Chrysler said it presented a merger proposal to France's Renault on Monday that would create "a preeminent global automotive group". The brand portfolio of the two groups would be "broad and complementary... and would provide full market coverage, from luxury to mainstream," it said.
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