Business Auto alliance: possible break with Nissan drops Renault stock

Auto alliance: possible break with Nissan drops Renault stock

-

A newspaper report on a possible end to the close cooperation with the Japanese car manufacturer Nissan has reduced the value of Renault shares. They fell by up to four percent at the start of the week and fell to a six-year low of around € 40. This made them the biggest loser in the French stock index.

Citing insiders, the Financial Times reported on Sunday that Nissan was pursuing secret plans to break up the alliance. Among other things, it is about possibly ending the cooperation in development and production. Changes to the Nissan Supervisory Board are also being considered.

Nissan has accelerated this planning since ex-boss Carlos Ghosn's flight from Japan in late December, it said. Renault was initially unavailable for comment.

Analysts consider Allianz to have failed

Investors and stock market experts are concerned about the development. "We seriously believe that the relationship (between Renault and Nissan), and with it the alliance, has failed and is probably unlikely to be saved," wrote analysts Arndt Elinghorst and Chris McNally of Evercore ISI.

Ghosn is considered the founder of the auto alliance from Renault, Nissan and Mitsubishi. He had fled from Japan to Lebanon, where he grew up, in spectacular circumstances just before New Year's. He is charged in Japan with breach of trust and financial misconduct by Renault's Japanese partner Nissan. Last spring, he was released from custody and placed under house arrest for a million bail.

Ghosn denies any wrongdoing. Since his arrest, rumors have increased that the auto alliance may break up.

Icon: The mirror

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Kobe Bryant is dead: Mamba Out – an obituary

It is - one can say without exaggeration - one of the most terrible tragedies in sports history: NBA...

Kobe Bryant: 13-year-old daughter killed

According to media reports, Kobe Bryants (41) private helicopter crashed and, in addition to the NBA legend, his 13-year-old...

“Using social networks to show an idyllic life doesn’t interest me”

Moët Chandon it has been for the tenth consecutive year the official Goya champagne. In...

Must read

You might also likeRELATED
Recommended to you