ECONOMY

Paris informs Tokyo it wants Renault and Nissan to integrate

The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan's next chairman. (AP)

A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday.

The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan's next chairman, according to the report. Nissan was not immediately available for comment.

Nissan ex-chairman Carlos Ghosn, arrested and detained in Tokyo since Nov. 19, has been indicted in Japan on charges of under-reporting his salary for eight years through March 2018, and temporarily transferring personal investment losses to Nissan during the global financial crisis. Ghosn has denied all charges.

The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire said in a newspaper interview published on Sunday that Michelin Chief Executive Jean-Dominique Senard could be a good choice to head Renault.

“The French state, as shareholder, will have its say. What I can tell you, is that Jean-Dominique Senard has a renowned competence with regards to the automobile industry,” Le Maire told France's Journal du Dimanche newspaper.

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Last Update: Sunday, 20 January 2019 KSA 08:46 - GMT 05:46
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