French government engaged constructively in failed FCA-Renault deal: Le Maire

The French government met only three out of its four conditions to back Fiat Chrysler's (FCA) merger with Renault, having failed to win the support of Renault's partner Nissan, Finance Minister Bruno Le Maire said on Thursday.

Le Maire said the French state, Renault's biggest shareholder, had engaged constructively with all partners in the negotiation. FCA blamed the political conditions in France for its withdrawal of the $35 billion merger proposal. "An agreement had been reached on three of the four conditions. What remained to be obtained was the explicit support of Nissan," Le Maire said in a statement.