NISSAN REFUSES THE RENAULT INTEGRATION PROPOSAL
(Reuters) – Nissan will reject Renault's proposal for deeper management integration and demand a capital-balanced relationship, reports the Nikkei newspaper.
Nissan management believes that the Japanese automaker has not received fair treatment so far and that with a merger this inequality of treatment would become permanent, according to sources quoted by the newspaper.
The Renault proposal states that further integration would optimize synergies within the Franco-Japanese alliance, he added.
Renault holds a 43.4% stake in Nissan, which in turn holds a 15% stake in the diamond company but without voting rights.
In late March, the Financial Times reported that Renault wanted to revive discussions over a merger with its Japanese partner over the next 12 months.
The alliance between Renault and Nissan was founded in 1999 and expanded in 2016 to Mitsubishi Motors.
A Nissan spokesman declined to comment on the Nikkei article and Renault's press service could not be reached on Easter Monday.
(Bhargav Acharya in Bangalore, with the contribution of Makiko Yamazaki, Véronique Tison for the French service)
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