Nissan wanted to get voting rights in Renault

Moscow. November 30. The Board of Directors of Japanese automaker Nissan Motor wants to obtain the right to vote and to reduce the share of the French state in its partner Renault, the newspaper Le Journal du Dimanche without mentioning the source of information.

According to the French edition, Nissan is seeking a restructure of its Alliance with Renault.

The meeting of the Board of Directors of Japanese companies is scheduled in Yokohama on Monday, Bloomberg reported.

In early November, France’s economic Minister Emmanuel macron has said that the government opposes significant change in the Alliance of Renault and Nissan, which has existed for 16 years. He also said that France still aims to reduce its stake in automobile companies to 15%.

In April, France acquired a 4.7% Renault increasing its stake to 19.7% in anticipation of the annual shareholders ‘ meeting in order to get the veto. Then to the vote it was proposed to cancel the rule according to which the shareholders holding the company shares more than two years will automatically receive double voting rights. The government managed to block the proposal, and the rule was upheld.

French state investment Fund APA previously promised to sell this autumn, with a 4.7% stake in Renault, but in the beginning of October the government decided to postpone plans to reduce its presence in the background of the scandal with German Volkswagen that caused the fall of quotations of securities of European automakers.