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April 23, 2019

Nissan to reject Renault integration proposal – report

Nissan is poised to reject a management integration proposal from alliance partner Renault as it looks instead for a more equal capital relationship, according to a Nikkei newspaper report.

By Sam Duke

Nissan is poised to reject a management integration proposal from alliance partner Renault as it looks instead for a more equal capital relationship, according to a Nikkei newspaper report.

Renault is said to be pushing for a closer relationship and eventual merger between the two companies, but Nissan managers are said to be opposed to any changes that could make the inequality between the two more permanent.

The relationship between the two companies – at the heart of an alliance that has brought cost savings to both – remains uncertain in the wake of the arrest of ex-Nissan chairman and architect of the alliance, Carlos Ghosn on charges of financial misconduct.

Reuters reports that Nissan CEO Hiroto Saikawa has declined to say whether the company had received a new integration proposal from Renault.

"Now is not the time to think of such things," he told a group of reporters outside of his house in Tokyo. "At the moment we are focused on improving Nissan's earnings performance. Please give us time to do that."

The Financial Times reported last month of Renault's intention to restart merger talks with Nissan.

Reuters noted that the two companies have said they would put themselves on more equal footing.

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