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France: Prime Minister ‘No Renault-Nissan merger’

 |  November 8, 2015

French Prime Minister Manuel Valls said the government did not want carmakers Renault and Nissan to merge.

At the moment the companies own large shareholdings in each other and co-operate closely.

However, on Friday Renault held an emergency board meeting amid reports the French government, one of its biggest shareholders, wanted a merger.

Mr Valls has denied that, saying he hopes the existing alliance, which dates back to 1999, would continue.

“The state is fully playing its role as a shareholder,” the French prime minister said. “And at the same time, we fully trust Nissan and Renault managers.”

French car manufacturer Renault owns 43% of Nissan, while the Japanese firm holds 15% of Renault.

Full content: Reuters

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