Nissan opposes Renault’s bid for a merger
Talks have been continuing since Renault chair Jean-Dominique Senard first made an informal proposal to Nissan CEO Hiroto Saikawa in April
Tokyo — Nissan is opposing renewed efforts by alliance partner Renault to merge under a holding company because such a structure will not help turn the Japanese car maker around, a person with knowledge of the discussions said. Talks have been continuing since Renault chair Jean-Dominique Senard first made an informal proposal to Nissan CEO Hiroto Saikawa in April, the person said, asking not to be identified because the discussions were not public. Nissan rebuffed the idea then and has continued to oppose it, the person said. News of the talks comes as Nissan is set to report on Tuesday its lowest annual operating profit in a decade, hurt by slumping US sales, aging models and a product cycle that’s out of sync. The merger proposal came after the most tumultuous few months in the companies’ two-decade partnership, which was shaken by the shock arrest of the alliance’s chief architect and former chair, Carlos Ghosn. Nissan declined to comment on the discussions. Representatives for ...
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