France not opposed to an equity rebalancing in Renault-Nissan alliance – Les Echos

PARIS (Reuters) -The French state supports a reshaping of the Renault-Nissan alliance and will not oppose a rebalancing of the equity stakes that the two carmakers hold in each other, Les Echos reported on Tuesday.

Les Echos, citing unnamed sources, reported that French President Emmanuel Macron made the assurances to Japanese Prime Minister Fumio Kishida during talks between the two leaders in Paris on Monday.

The Elysee did not immediately respond to a request for comment.

In their negotiations, Renault is hoping to convince Nissan to invest in its electric vehicle business, while Nissan is seeking the sale of part of Renault’s 43% stake in Nissan to put the two partners on a more equal footing.

The French state is Renault’s largest shareholder with a stake of 15%. Renault in turn is Nissan’s largest shareholder with a 43% stake, much more than Nissan holds in the French carmaker.

(Writing by Richard Lough and Tassilo HummelEditing by Ingrid Melander)