Western Europe: Across the Vanishing Borders

More and more, auto manufacturing is becoming a multinational business. Last week the French government approved the first deal in history under which companies from two countries, France's tire-making Michelin and Italy's car-making Fiat, will share control of a major auto manufacturer, France's Citroen. The companies had agreed on the outlines of the contract in 1968, but only now—long after De Gaulle had departed—did the government approve.

The majority of Citroen's stock will be put into a new holding company, of which 51% will be owned by Michelin and 49% by Fiat. Since Fiat's sales are much greater than Michelin's...

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