French PM says government does not want Nissan/Renault merger

08 Nov, 2015 3:30 pm

PARIS – French Prime Minister Manuel Valls said on Sunday the French government did not want a merger between car makers Renault (RENA.PA) and Nissan (7201.T).

“We do not want a merger,” Valls said in an interview on French iTele TV channel, adding that he wished to see the alliance between the French and the Japanese company endure.

Renault owns a 43.4 percent controlling stake in Nissan, which holds a non-voting 15 percent of Renault. Carlos Ghosn, 61, serves as CEO of both car makers.

Reuters reported this week that French economics minister Emmanuel Macron has been pressuring Ghosn to undertake a full Renault-Nissan merger on French government’s terms.

The French government raised its Renault stake in April to 19.7 percent from 15 percent secure double voting rights. -Reuters

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