Nissan CEO denies knowledge of Renault integration plan
The Wall Street Journal Global Economics Editor Jon Hilsenrath on mounting concerns over former Nissan Chairman Carlos Ghosn's treatment in a Japanese jail.
The head of Nissan Motor said Monday he has not received a French request to integrate the Japanese automaker with alliance partner Renault, despite reports that Paris has made such a request of Tokyo.
Renault officials in France, which owns about 15 percent of Renault, seeks a combination of the two manufacturers under a single holding company, Nikkei Asian Review reported. Renault holds a 43.4 percent stake in Nissan.
Nissan Motor CEO Hiroto Saikawa said that such proposal “is not at the discussion stage.”
He also said that “in order for the board of directors of the two companies to discuss [the future of the alliance], Renault’s system needs to be firm. I think the French side is moving in various ways in that sense,” according to Nikkei.
French officials are believed to want an integration of the two firms, preferably under a single holding company.
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Bruno Le Maire, France’s economy and finance minister, denied Sunday that an integration of Renault and Nissan has been discussed within the French government.