A fresh report claims Renault is seeking a full merger with alliance partner Nissan, before turning its attention to plans to acquire Fiat Chrysler Automobiles.
According to the Financial Times, the French firm is eager to open merger talks with Nissan “within 12 months”. Renault, Nissan and Mitsubishi, of course, are already part of a global alliance, but the French company is reportedly seeking a more permanent tie-up.
Carlos Ghosn, Renault’s former chief executive and Nissan’s chairman, was arrested in November 2018 for financial misconduct. In January 2019, Renault’s board co-opted Michelin CEO Jean-Dominique Senard as a new director and elected him chairman.
A source quoted by the Financial Times said Senard would head up the merger talks.
“His first job was to put the house in order. He has done that. Now it’s to stabilise and develop,” said a source the publication described as “close to Renault and the French government” (the latter owning 15 percent of the automaker).
Interestingly, the report also claimed Ghosn had held talks with Fiat Chrysler Automobiles about a deal some “two to three years ago”, but that these negotiations fell through.
Ryan has spent most of his career in online media, writing about everything from sport to politics and other forms of crime. But his true passion – reignited by a 1971 Austin Mini Mk3 still tucked lifeless in a dark corner of his garage – is of the automotive variety.