French PM says Government does not want Nissan/Renault merger

Tuesday, 10 November 2015 00:02 - - {{hitsCtrl.values.hits}}

Reuters: French Prime Minister Manuel Valls said on Sunday the French Government did not want a merger between car makers Renault and Nissan.

“We do not want a merger,” Valls said in an interview on French iTele TV channel, adding that he wished to see the alliance between 07-1 the French and the Japanese company endure.

“The state is fully playing its role as a shareholder... And at the same time, we fully trust Nissan and Renault managers in a dialogue that is normal,” Valls said.

Renault owns a 43.4% controlling stake in Nissan, which holds a non-voting 15% of Renault.

Carlos Ghosn, 61, serves as CEO of both car makers.

Reuters reported this week that French economics minister Emmanuel Macron has been pressuring Ghosn to undertake a full Renault-Nissan merger on French Government’s terms.

The French Government raised its Renault stake in April to 19.7% from 15% secure double voting rights.

Nissan has expressed concern over the Government’s move and in September drew up confidential proposals to end Renault’s control by acquiring a bigger stake in its French parent, Reuters reported.