(Reuters) – The French state is following “with attention” ongoing discussions around a possible change in Nissan’s shareholding and Renault, the Japanese car manufacturer’s largest shareholder, will be a key player in possible future decisions, a a source familiar with the matter told Reuters on Friday.
The Japanese automaker is exploring the possibility of a merger with compatriot Honda, including a possible merger, as both manufacturers face increased competition globally from electric vehicle makers.
The French state holds a 15% stake in Renault.
“The cooperation framework between Renault and Nissan is today, since the re-foundation of the Alliance, firmly established around shared operational and cooperation projects which have no reason to be called into question by an evolution of the “Nissan shareholding,” added the source, who declined to be identified due to the sensitivity of the matter.
“The State will be attentive to the preservation of these projects, and will support Renault in its search for optimal valorization of its financial participation in Nissan,” she said.
Bloomberg reported Friday that Taiwanese electronic components maker Foxconn has put on hold its plan to buy a stake in Nissan from Renault as the Japanese automaker explores a potential merger with Honda.
Foxconn’s decision comes after a delegation was sent to France to meet Renault, adds Bloomberg, citing sources familiar with the matter.
Contacted by Reuters, Renault declined to comment.
(Report by Gilles Guillaume, by Diana Mandiá, edited by Sophie Louet)
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