(Bloomberg) -- Nissan Motor Co. is in talks to buy most of the French state's stake in partner Renault SA as the carmakers tighten cooperation, Reuters reported, citing unidentified people close to the matter.
Discussions with government officials include France giving up influence at Renault while the manufacturer would relinquish control over its Japanese counterpart, the newswire reported. Renault stock surged as much as 13 percent, the most since August 2009.
Renault and Nissan have been partners since the 1990s, with the French company currently holding about 43 percent of the Japanese carmaker's stock. France acquired a stake in Renault in 2015 to thwart an effort by Nissan to gain more influence, and the state's current 15 percent holding about matches the Japanese partner's. Carlos Ghosn, who's chairman of both camakers, was reappointed chief executive officer of Renault in February and pledged to bring them closer together.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Spokesmen at Renault didn't immediately respond to messages seeking comment, while Nissan declined immediately to comment.
To contact the reporter on this story: Tom Lavell in Frankfurt at tlavell@bloomberg.net.
To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net.
©2018 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
