Renault and Nissan merger proposed

paris — Japanese media reported on Sunday that France wants a merger between Renault and Nissan following the arrest of former Nissan chairman Carlos Ghosn, but according to France’s economy minister changing the current set-up is “not on the table”.

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

A delegation including Martin Vial — a Renault director designated by the French government — made the merger request at talks with Japanese officials in Tokyo, Kyodo News reported, citing sources close to the matter.

The French government is the biggest shareholder in Renault with a stake of more than 15 per cent, while Renault owns 43.4 per cent of the Japanese carmaker Nissan with voting rights. A merger between the two is favoured by French President Emmanuel Macron, Kyodo said.

Japanese business daily also reported the merger request by the French delegation, saying Nissan had been opposed to giving Paris greater sway over the Japanese carmaker.

According to the the delegation also said Renault wants to name Nissan’s next chairman — a post that has remained vacant.

But the reports appear to contradict comments French Economy Minister Bruno Le Maire made to newspaper, published on Sunday. —