"Fiat Chrysler has decided to withdraw its offer to merge with the French carmaker Renou, according to people familiar with the matter. The company decided to pull out after the French government resisted, the deal due to a lack of support from Nissan. Nissan is in an alliance with Renault to find out more. I rang up Nick cost of in Paris, who's been closely following the deal. So Nick, what happened what happened? Good question suit, essentially, what we have is deal between we have FCA proposing to merge with Reynaud. However, Renner has been in tonight's with Nissan for twenty years, and therefore shares of many parts platforms is fairly integrated with Nissan, now, the French states decided that it would not back this deal without the explicit approval and without the explicit support of Nissan and Nissan. Has not really been involved in negotiations. Nissan, essentially abstained on the votes and said, we need more time to study how this would affect business and for the French state that wasn't good enough. They wanted me Santa vote. Yes. And so, different states, proposed delay said let's try and work with Nissan to try and get them on board and will reconvene in five days and at this point, John Alcon, who's the controlling shareholder if he at Chrysler decided to pull the deal of pool his proposal, and so the deal Fennell has fallen apart. What has the Chrysler said, well fee Chrysler fuse, and the deal is, is not possible with the with the French state at the moment, because they've been in negotiations with the French state for the past week, different state has been asking for a number of concessions, for example, once a board seat on the new entity. It wanted a four year term for the news CEO of the. Company, and he wanted that to be Reynaud chairman. There was a number of other things. And so see at Christ is essentially saying, we've had enough of the French states demands, this has become untenable, and we can't do a deal when east conditions, and what does the failure of this deal mean for the car industry in Europe? And in the US, does it help rivals, like maybe Volkswagen, perhaps, I mean, it's very difficult to tell at this stage in the US, this would have meant said Nissan, getting together with Chrysler in a way, which which would obviously bought brands like ramen Jeep closer closer with the Nissan's. So that doesn't seem like it's going to happen now. I mean what it means I guess, for the car industry is, if you speak to end this most of them think that Fiat Chrysler needs a deal right now and because then they haven't invested enough in future technologies, I'm so we'll see who they end up with whether it's another French call maker of maybe Paju, or whether"