Renault said to be seeking a merger with Nissan

Nissan president and CEO Hiroto Saikawa speaks during a news conference at the company headquarters in Yokohama, south of Tokyo, Japan, on November 19 2018. File photo: REUTERS/ISSEI KATO

“What we always said, and we still say the exact same thing, is that what we want is the alliance to be irreversible,” Renault CFO Clotilde Delbos said Friday on the company’s first quarter conference call when asked about its plans. “This is what we are pursuing collectively with Nissan.” Renault shares advanced as much as 4.3% on Friday, and had risen 2.7% to €61.18 as of 4.55pm in Paris. That would give the French car maker a market value of €18.1bn, compared with Nissan’s ¥3.77-trillion .

Both companies are struggling. Nissan this week said it will miss its annual profit goal, and Renault on Friday reported a drop in first-quarter sales. Car makers have been contending with a decline in China, the world’s biggest market, and a broader slowdown elsewhere, while a shift toward electrification is placing huge demands on investment capital.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crisis-hit Nissan issues fresh profit warning | Business | M&GNissan issued a profit warning on Wednesday, deepening the woes of the Japanese car giant as it seeks to recover from the shock of former boss Carlos Ghosn’s arrest.
Source: mailandguardian - 🏆 2. / 92 Read more »

Ghosn wins bail in Japan but banned from seeing wife - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Former Nissan chief Carlos Ghosn emerged from his Tokyo detention centre in the late hours of Thursday after accepting bail of $4.5 million under strict conditions including restrictions on seeing his wife. When a man’s face looks like that , he must be having some real problems in life
Source: SABC News Online - 🏆 32. / 51 Read more »

Deutsche Bank merger talks with Commerzbank collapseGerman hopes of creating a national banking champion dashed
Source: BDliveSA - 🏆 12. / 63 Read more »

Deutsche Bank merger talks with Commerzbank collapseGerman hopes of creating a national banking champion dashed
Source: BDliveSA - 🏆 12. / 63 Read more »

Crisis-hit Nissan issues fresh profit warning | Business | M&GNissan issued a profit warning on Wednesday, deepening the woes of the Japanese car giant as it seeks to recover from the shock of former boss Carlos Ghosn’s arrest.
Source: mailandguardian - 🏆 2. / 92 Read more »