Renault Renews Offer to Merge with Nissan
Tokyo, April 23 (Jiji Press)--Renault SA has offered anew to merge with Japanese alliance partner Nissan Motor Co. <7201>, after the French automaker appointed its new chairman earlier this year, according to informed sources.
Nissan is believed to reject the merger offer, hoping to keep its management independent, the sources said Monday. The rejection could jeopardize the recent momentum for improving ties between the two companies.
In January, new Renault Chairman Jean-Dominique Senard took office amid soured Nissan-Renault relations, following the arrest of then powerful alliance leader Carlos Ghosn in Japan in November last year for alleged financial misconduct.
Senard was initially expected to focus on mending fences with Nissan while setting aside the merger issue.
A Nissan-Renault merger has been sought by the French government, Renault's top shareholder, which apparently aims to revitalize the country's automotive industry by leveraging Nissan, Renault's larger alliance partner in terms of technological and management resources.
[Copyright The Jiji Press, Ltd.]