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Renault-Nissan ready to merge if France exits stake -CEO
February 10, 2017 / 8:29 AM / 9 months ago

Renault-Nissan ready to merge if France exits stake -CEO

PARIS, Feb 10 (Reuters) - Renault and alliance partner Nissan are ready to pursue a closer tie-up, Chief Executive Carlos Ghosn said on Friday, but not before the French state sells its stake in the French carmaker.

Ghosn, who heads both manufacturers, said a 2015 stand-off over French government voting rights had persuaded Nissan that no further consolidation was possible while France remains a shareholder.

“The Japanese will never accept to be part of an entity where the French state will be a shareholder of Japanese assets,” Ghosn told analysts as he presented Renault’s full-year results. “The day the French state decides to get out, everything is open.”

France is Renault’s biggest shareholder, with a 19.74 percent stake and a bigger share of voting rights. (Reporting by Laurence Frost; Editing by David Goodman)

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