Nissan in new bid to end Renault control, curb French clout: Sources

PARIS: Japanese carmaker Nissan has set out new proposals to end French parent Renault's control and block state interference in their alliance, sources said, aiming to defuse a row over moves by Paris to boost its influence on Renault.

In a document outlining its position, Nissan is seeking limits to government voting rights in Renault as well as written guarantees against intervention in its operations by the French carmaker, its 43.4-per cent owner, two sources with knowledge of the matter said on Wednesday, confirming a report in Le Figaro.

The revised demands are the latest twist in a governance crisis that erupted in April when French Economy Minister Emmanuel Macron raised the government's Renault stake to 19.7 per cent from 15 per cent in order to secure double voting rights for the state.

The Renault-Nissan alliance and the French government declined to comment on Wednesday.

The standoff between Macron and Carlos Ghosn, chief executive of both carmakers, is set to come to a head on Dec. 11 when the Renault board is due to decide on a response to the French government power grab.

Nissan and French officials have been negotiating for two months to resolve the dispute.

In confidential September proposals revealed by Reuters, Nissan had already threatened steps to exit Renault control by raising its own stake in the French carmaker to at least 25 per cent and activating voting rights on the holding.

Nissan currently owns a non-voting 15 per cent of Renault.