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Business deals

Fiat Chrysler withdraws Renault merger proposal

Decision comes after French automaker delayed approval at government's request

The two automakers failed to reach an agreement on merger talks. 

FRANKFURT/PARIS -- Fiat Chrysler Automobiles withdrew its proposal for a $35 billion merger with Renault as the French automaker's board found itself unable to vote on the matter.

Renault's board late Wednesday night issued a statement that spelled trouble for the proposal. "The Board of Directors was unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote," it said.

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