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Nissan wants Renault to reduce stake to revive Renault-FCA deal talks: WSJ

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Carmakers Nissan Motor and Renault SA are trying to reach a deal to reshape their global alliance, in hopes of reviving Renault's merger talks with Italy's Fiat Chrysler Automobiles NV, the Wall Street Journal reported on Friday, citing emails and people briefed on the talks.

[BENGALURU] Carmakers Nissan Motor and Renault SA are trying to reach a deal to reshape their global alliance, in hopes of reviving Renault's merger talks with Italy's Fiat Chrysler Automobiles NV, the Wall Street Journal reported on Friday, citing emails and people briefed on the talks.

Nissan wants Renault to reduce its 43.4 per cent stake in the Japanese auto company, according to emails reviewed by WSJ.

The discussions, which are at an early stage, started soon after the potential deal between Renault and FCA collapsed, the report added. Talks could extend until the end of the year.

The negotiations could lead to an initial memorandum of understanding on restructuring as early as September, the Journal reported, citing emails.

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Nissan, Renault and FCA were not immediately available for a comment on the report.

FCA said in June that it had abandoned its US$35 billion merger offer for Renault, blaming French politics for scuttling the deal. The French government owns a 15 per cent stake in Renault.

Reuters had reported in June that a revival of the collapsed merger plans of FCA and Renault may hinge on the French carmaker cutting its stake in Nissan.

REUTERS