That's not all, because the French government is another big reason for the merger's hold-up. In order to ensure that the consolidation merger would not take on workers in France, the French government, which is Renault's largest single shareholder, requires a seat on the board of the new company to ensure that it has an expression to protect jobs.
French President Emmanuel Macron is particularly sensitive to the needs of his country's labor force after anti-establishment forces, marked by the yellow west movement, have threatened their grip on power. So in order to cement its control over the car manufacturer that would follow from the merger, France also asks for a seat on the board to decide the company's CEO. The FCA wants to weaken the power of the seat by removing a proposed rule that will require unanimous board agreement to elect a CEO.