Tuesday, September 05, 2006

GM, Renault, Nissan Talks Advance

Renault's Steps Suggest Advancement Of Nissan, GM Talks
By ANNE-SYLVAINE CHASSANY and DAVID PEARSON. September 5, 2006 1:54 p.m. The Wall Street Journal

Renault SA is in the process of selecting two investment banks to advise the French auto maker on a possible three-way tie-up between Renault, Nissan Motor Co. of Japan and U.S. rival General Motors Corp., said people close to the matter. A person close to the matter said the move suggests discussions "are taking on a positive tone" and that Renault is "now seriously considering a potential alliance." A Renault spokeswoman said she couldn't comment.
Carlos Ghosn, chief executive of Renault and Nissan, has said Renault wouldn't be making any public statements until internal feasibility studies are completed in mid-October and Renault decides whether it is in its interests to proceed. Renault has a 44% interest in Nissan, which owns 15% of Renault. Mr. Ghosn commented recently that the studies are progressing well, but said it is too early to say what the outcome might be. He has said he wouldn't want a management role in an eventual joint venture...read more: HERE