What has been agreed upon between the two auto companies? [br] [originaltext]

Two European leading auto makers, the French company Renault and  the Swedish firm Volvo had agreed to merge. The deal, expected to be an nounced later today, will create the world’s 6th largest auto producer. Ob servers say the move is aiming to create an European auto giant capable of competing with Japanese import at the time when new car sales in Europe are declining.