As Fiat Chrysler Automobiles NV and Renault SA move on from their failed merger talks, a revival of discussions would depend on overcoming at least two major obstacles.
Fiat blamed "political conditions in France" when it withdrew its proposal, and a signal from the French state that it would give up its sway over Renault would be necessary for a resumption of talks, people with knowledge of the situation said. One option would see France agreeing to reduce its 15 percent stake after obtaining commitments by Fiat on French jobs and plants, the people said, asking not to be identified discussing private matters.
For Renault and the state, its most powerful shareholder, repairing the relationship with longtime partner Nissan Motor Co. will take priority over looking at a Fiat deal, officials have said. France in particular views securing the Japanese carmaker's explicit backing as crucial for the success of a Fiat-Renault combination. Nissan representatives on Renault's board abstained in an informal vote on the deal last week, leading France to seek a delay.
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