France pushes Japan to accept Renault-Nissan merger: reports

The French government has told Japan it will seek a merger between Renault and Nissan following the shock arrest of former Nissan chairman Carlos Ghosn, reports said Sunday.

Ghosn headed a powerful alliance between Nissan, Mitsubishi and Renault before his arrest in November on charges of financial misconduct.

The French government is the biggest shareholder in Renault with a stake of more than 15 percent, while Renault owns 43.4 percent of the Japanese carmaker Nissan with voting rights.

Nissan, which holds a 15 percent stake in Renault, is widely seen as hoping to reduce the influence of the French partner on its management and review the alliance to make it more equitable.

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Article source: http://www.dailystar.com.lb//Business/International/2019/Jan-20/474502-france-pushes-japan-to-accept-renault-nissan-merger-reports.ashx