November 19, 2018 / 4:24 PM / a month ago

France says Ghosn case not problem for Renault stability

FILE PHOTO: French Economy Minister Bruno Le Maire attends the 2018 Women's Forum Global Meeting in Paris, France, November 15, 2018. REUTERS/Benoit Tessier/File Photo

BRUSSELS (Reuters) - The arrest of Renault (RENA.PA) CEO Carlos Ghosn and his imminent removal from the board of Nissan Motor Co. (7201.T) does not pose a threat to the stability or survival of the French carmaker, France’s finance minister said on Monday.

Bruno Le Maire told reporters on the sidelines of an EU meeting that the French government, as a significant shareholder in Renault, remained committed to its partnership with Japan’s Nissan and would decide on future actions in the coming days.

He declined to comment on the allegations against Ghosn of financial misconduct, saying he should be presumed innocent until proven otherwise, and he declined to say who he thought might take over at the helm of Renault.

“There is no concern over the stability or the future of Renault,” Le Maire said.

Reporting by Alastair Macdonald; editing by David Evans

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