May 23, 2018 / 9:01 AM / a month ago

Renault-Nissan merger unlikely before 2020, CEO Ghosn says

PARIS (Reuters) - Renault (RENA.PA) and Nissan (7201.T) are reviewing the ownership structure of their carmaking alliance but are unlikely to merge into a single listed entity this year or next, Chief Executive Carlos Ghosn said on Wednesday.

FILE PHOTO: Renault Chief Executive Carlos Ghosn delivers a speech during the official presentation of the new Renault RS16 car at the company's research center, the Technocentre, in Guyancourt, near Paris, France, February 3, 2016. REUTERS/Benoit Tessier

Speaking at a Bloomberg conference, Ghosn reiterated that the carmakers were examining ways to consolidate the Renault-Nissan-Mitsubishi alliance and assuage doubts about its survival after his eventual departure. Renault currently owns 43.4 percent of Nissan, which controls Mitsubishi Motors (7211.T).

Asked whether this could transform the carmakers into a single listed entity in 2018 or 2019, however, Ghosn answered: “I don’t think so.” Reuters reported in March that Renault and Nissan were discussing a deeper tie-up.

Reporting by Gilles Guillaume and Laurence Frost; Editing by Sudip Kar-Gupta

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