Not worth investing?

Until today, Proton has failed in it's effort to search for a partner since last year... everyone was talking about it back then and i believe by now most of them have given up hope...
First of all, why is Proton's negotiations with major global automotive players seems to be a never ending process? Why Peugeot, GM, Volkswagen all failed to clinch a deal with Proton?
OK here's what the deal's like assuming you're the CEO of company X Corp looking for a deal with Proton.
1) X Corp cannot owns more than 50% of Proton's share.
- X Corp hence are unable to run the company the way it wanted it to be.
2) Proton will not restructure the company in terms of downsizing.
3) Proton will maintain it's ingenious hiring policy.
4) X Corp to put up with all Proton's financial problems.

So you say, okay. What's the benefit that I can get from Proton?
well....here you go.
1) X Corp can now capitalize on Proton's insipid car designs.
2) X Corp will potentially inherit Proton's huge debts given the rate it's cash pile is diminishing.
3) X Corp will enjoy Proton's market share of only ~30% locally.
4) X Corp risk of potentially buying an empty shell.

Hmmm... putting myself in that position, I would say "count me out!".
It's just a no-brainer isn't it...
Well... a piece of advice to Proton... be humble and learn from your peers.
First of all before you do that, consider going for a restructuring exercise... it helps.