Renault shares surge on Nissan merger talks report

Renault shares jump after Nissan merger report

A new deal would end an existing alliance between the two automakers and make them into one, said the sources, who requested anonymity due to the details not being made public. Renault now owns 43% of Nissan while the Japanese carmaker has a 15% stake in its French counterpart. Citing people with knowledge of the matter, Bloomberg said the new entity would be run by Ghosn, who is now Renault's chief executive and board chairman at Nissan.

Reports suggest that the Nissan would give Renault shareholders stock in the newly formed company. It is believed the new automaker may maintain two headquarters, one in Japan and one in France, but there's also a possibility for a single HQ in London or somewhere in the Netherlands. Nissan shares are down almost 2 percent over the past year, giving the company a valuation of 4.6 $43 billion.

As per Janet Lewis, an analyst, "Size matters in the auto industry", "The concern has always primarily been the French government, and somewhat Japan, because both France and Japan like to keep their national champions".

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Despite this, there were concerns over regulatory interference, as seen in other Chinese commodities like iron ore and coal. So far, China has opened more than 6,000 trading accounts, including the country's oil majors and about 150 brokerages.

In an interview with AFP earlier this year, Ghosn said the French carmaker is keeping all options open regarding its alliance with Nissan and Mitsubishi, another Japanese carmaker in which Nissan holds a stake.

Neither Renault or Nissan have commented on the report.

Earlier in March, Nissan was holding talks to purchase a large portion of the stake held by the French government. Both companies are managed by Carlos Ghosn. "I just consider that I have the shareholders that I have and I try to satisfy them in the best way possible and as much as possible make sure that they understand our strategy and appreciate our results".

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