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PARIS – Renault has announced that it will block the reforms launched by its Nissan alliance partner in the aftermath of the Carlos Ghosn scandal, unless it is represented in the new board committees. administration, said a source close to Renault.
Renault has informed its Japanese subsidiary, in a letter signed by President Jean-Dominique Senard, of its intention to abstain during the shareholders' vote on the projects, Financial Times reported earlier Sunday.
An abstention from Renault would effectively block reforms, which require the adoption of a two-thirds majority.
Senard's letter was motivated by concern over the under-representation of Renault in Nissan's new board committees introduced after Ghosn's arrest in November, which is currently awaiting trial in Japan for charges. financial misconduct, that he denies.
"This is not a final abstention, and Renault's position may still change," said a Renault source. "As things stand, Renault is not badured of adequate representation of its committees as Nissan's largest shareholder."
Renault holds a 43.4% stake in Nissan.
A spokeswoman for Renault did not comment immediately. A Nissan spokesperson could not be reached after hours in Japan
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