Renault/Nissan merger

FRENCH car maker renault and its Japanese partner Nissan may combine into one mega firm.

They are believed to be discussing a deal to create a jointly owned company to be based in either london or Netherlands.

renault, worth around £24bn, owns 43pc of Nissan, while Nissan owns 14pc of renault, with joint chairman Carlos Ghosn, 64, said to be driving the talks.

Nissan, which is worth around £30bn, has a major plant in sunderland, which produces more than 500,000 cars a year.

A deal would have to get past the French government, which owns 15pc of renault. renault-Nissan said: ‘We do not comment on rumours.’