The president of Nissan denies a proposal of France on fusion with Renault

The president of Nissan denies a proposal of France on fusion with Renault

The president of Nissan Motor, Hiroto Saikawa, said today that the Japanese car company has not received any proposal from the French government to negotiate a possible merger with Renault.

Saikawa said he "has not heard anything" about the possibility that both manufacturers form a single entity, and said that Nissan and Renault "are not yet in that phase (to negotiate the operation)," in statements collected by the state chain NHK

The head of Nissan after the dismissal of Carlos Ghosn was pronounced like this on the information published by several means that pointed out that the Government of France had transferred to Japan its intention to merge both companies.

According to the Japanese financial newspaper Nikkei, Paris wants the two car companies to be integrated into a single corporation, a step beyond the current alliance between these two companies and the Japanese automaker Mitsubishi Motors.

"It would be a positive step if Renault enters the same scenario as us to be prepared to talk about the future," he said about the change of board of the French company Saikawa, who has been Nissan's CEO temporarily since the dismissal of Ghosn. at the end of November.

Saikawa himself said earlier that Nissan aspires to have "more independence" and "more weight in decision-making" within the alliance, in the face of alleged pressure from Paris to carry out a merger that would grant greater power to the French Government about the Japanese company.

For its part, the Japanese Executive pointed out the importance of both companies "holding talks until reaching an agreement that satisfies both parties," spokesman Yoshihide Suga said at a press conference today.

The French State is the largest shareholder of the Renault group, with 15.01% of the shares, according to the latest available annual report of the year of 2017.

Renault is also the largest shareholder of Nissan Motor, with 43.4% of the shares and voting rights in the Japanese firm, while the company based in Yokohama (south of Tokyo) has 15% of the shares in the French but without the right to vote.

Discussions about the structure of the alliance have come to light after the fall of Ghosn, who, in addition to being the head of Nissan, exercised the same functions at Renault and at the head of the conglomerate formed by both companies together with Mitsubishi.

Ghosn is accused by the Tokyo prosecutor's office of hiding from the millionaire authorities compensations agreed with Nissan and of violating the confidence of the company to use funds from that corporation to cover personal losses in the financial markets.


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