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August 04, 2019
Nissan and Renault are planning to revise their partnership to relaunch the merger negotiations with the American-Italian Fiat Chrysler, according to US media.
Negotiations on the merger between Renault and Fiat Chrysler broke off in June and the Renault president accused the French government of blocking the vote on an agreement that would have boosted the auto industry and the birth of the third global car manufacturer.
The French government has denied the accusation, while describing the "Nissan relationship with" Renault is not equal and said: The French car factory has not seen the plans to merger with "Fiat Chrysler.
The Wall Street Journal, citing e-mails and sources close to the two companies, asks Renault to reduce its share of 43% of the shares of the Japanese company. Nissan controls 15% and does not have the right to vote on Renault, part of which is owned by the French government.
A balanced relationship would ease some tensions between the two automakers and reduce Nissan's reluctance to support integration with Fiat Chrysler.
A draft agreement on restructuring the relationship could be reached in early September, the Wall Street Journal reported in July. Any agreement will require the approval of the French State, which holds 15% of Renault's capital.
The agreement is not inevitable: French President Emmanuel Macaron announced at the end of June that he would not ask for any change in the structure of the two companies.
The same month, shareholders agreed to a restructuring to strengthen the management of the company after the arrest of his former boss, Carlos Ghosn, for financial misconduct, and Nissan's refusal to make comments . Renault has not responded to a request for comment.
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