ICYMI: To move forward, Renault needs a quick backwards step, writes Unmack1
approval and money to proceed with a complex breakup. The price, a reduction in Renault’s grip on Nissan, is worth paying.
want to share common platforms for 80% of their models by 2026. But the scandal surrounding ex-Nissan Chairman Carlos Ghosn, and the French government’s grip on Renault, makes such a deal unlikely. Another headache is the alliance’s lopsided governance, which sees Renault hold a 43% stake in Nissan but the Japanese group prohibited by French law from exercising voting rights associated with its 15% stake in Renault.
Giving up some control of Nissan looks harder for Renault. If its share in Nissan fell back to 15%, the Japanese group would recover its voting rights in Renault, as it would no longer be deemed to be under the French group’s control. The French government, which has a 15% share in Renault, would have less grip.
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