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France: Prime Minister ‘No Renault-Nissan merger’

By  |  November 8, 2015

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

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    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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