Mon, Nov. 9, 4:44 AM
- Following a week of mounting tensions over the role of the state in automaker Renault, French Prime Minister Manuel Valls said Sunday he is opposed to a full merger of Renault (OTCPK:RNLSY) and Nissan (OTCPK:NSANY), but wants to "preserve the alliance."
- The two companies have been in a tech and capital partnership since 1999, making it one of the most enduring tie-ups in the sector. Renault holds a 43.4% stake in Nissan, while one of its subsidiaries controls 15% of its French partner.
- Renault shares -2.7% in France.
- Previously: French government pushing for Renault-Nissan merger (Nov. 04 2015)
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