Renault-Nissan discussing change in alliance structure to counter French control: paper

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Renault SA (RENA.PA) and Nissan Motor Co (7201.T) have entered discussions to reorganize their capital alliance structure in a bid to water down Paris’s control of the French automaker, the Nikkei business daily reported on Wednesday.

The paper said a plan being floated was for Renault to lower its stake in Nissan below 40 percent from the current 43.4 percent – a move that would, under French law, allow the Japanese partner’s stake in Renault to carry voting rights. The Nikkei did not say where it obtained the information.

A source close to the matter told Reuters on Tuesday that Renault was planning to hold a board meeting to discuss its alliance with Nissan.

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