The afternoon board session has been scheduled to discuss "shareholding changes," the source said, after France raised its Renault stake to bolster its influence over the company in a challenge to Carlos Ghosn, who leads both Renault and Nissan.
Neither Renault nor the French government responded to calls and messages seeking comment.
The French state unveiled moves on April 8 to increase its Renault holding to 19.7% from 15%, and to block a shareholder resolution proposed by Ghosn that would maintain one vote per share in the company.
Legislation introduced under Socialist President Francois Hollande doubles the voting rights of longer-term shareholders in companies that do not explicitly opt out of the so-called Florange law by a two-thirds majority vote.
By blocking the opt-out at the April 30 shareholder meeting, the government aims to increase its own clout at the risk of destabilizing Renault's alliance with Nissan, in which it has a 43.4% stake.
Nissan holds a reciprocal 15% of Renault but no voting rights -- a sore spot in their 16-year alliance -- because the larger Japanese group is deemed to be under Renault's control.
The source did not say what options would be considered at the board meeting.
Measures to re-balance the alliance have been considered in the past, according to Renault and Nissan insiders -- including a Nissan capital increase or a reduction of Renault's stake. Either could renew Nissan's voting rights in Renault.
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