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France Opposes Changes to Renault-Nissan Structure

27 Novembre 2015 - Automotive News

France Opposes Changes to Renault-Nissan Structure

France's decision to secure double voting rights in Renault should not result in any changes to the structure of the automaker's partnership with Japan's Nissan, French Economy Minister Emmanuel Macron said on Wednesday.

Macron told France's lower house of parliament the government would not accept any changes to the current partnership structure between the two companies.

"Under no circumstances shall we accept that the balance be revisited," Macron said.

Macron increased France's stake in Renault earlier this year to secure double voting rights, although the move attracted criticism in Tokyo.

"Thinking that this operation calls into question the alliance's balance is a flight of fancy," Macron said.

Sources told Reuters earlier this month that France had offered to limit its voting rights at Renault in a bid to end its power struggle with the carmaker and partner Nissan, but their combined CEO Carlos Ghosn remained determined to push through changes that would give the Japanese company more say over the alliance.

Renault owns a 43.4% controlling stake in Nissan, which holds a non-voting 15 percent stake in Renault.

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