Renault Renews Offer to Merge with Nissan

Economy

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.

Speaking to reporters on Tuesday, Nissan President Hiroto Saikawa said, "What's most important is the future of Nissan."

"I'll take the approach of using the alliance for the future in doing my job," Saikawa said, suggesting a negative perception of the merger proposal.

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.

[Copyright The Jiji Press, Ltd.]

Jiji Press