Renault's chairman expressed regret that he couldn't strike a deal for Fiat, saying the combined companies could have competed better against Chinese car makers
PARIS—Renault SA’s chairman defended his attempt to merge the firm with Fiat Chrysler Automobiles NV, saying it would have built a European car maker with the scale to compete with the growing power of Chinese car makers.
Addressing investors at his first annual shareholder meeting, Jean-Dominique Senard expressed regret that the Italian-American car maker withdrew its proposal after the French government declined to back it.
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