Automaker Nissan has driven a larger interest last year in partner Renault. This happened during a direct consultation with the French state about a possible merger between the two companies, The Wall Street Journal reported.
During that meeting, Nissan failed to see anything in a merger. However, Nissan wanted to increase its stake in Renault and the French then had to get rid of some of their shares in Nissan, top executive Hari Nada indicated.
Nissan wanted the better balance between the two automakers to be expressed in new contracts so that neither of the partners would have the upper hand in the alliance. Both Renault and Nissan declined to comment.
It’s been a bumble bee lately at the car companies. Former CEO Carlos Ghosn, who was the boss of both Renault, Nissan and Mitsubishi, has been in Japan since November for suspicion of fraud at Nissan. The arrest of the car boss has led to tensions within the alliance Renault-Nissan-Mitsubishi. There have been rumors that Nissan wants to use the situation to equalize the relationships within the alliance.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]