Renault shares dropped in early session trading on Thursday, as Nissan stated the Renault-Nissan-Mitsubishi alliance had no strategies to change the cross-shareholding ratios of its member business, hinting views from the French government.
Renault shares were lowered by 1.4 percent in early session trading, giving up a few of the gains it made in the previous day, when the stock had ended 5.6 percent greater.
Renault shares rallied on March 7, after Reuters noted that Renault and its alliance partner Nissan were talking about plans for a better tie-up where the Japanese automaker would get the bulk of the French state’s 15 percent Renault holding.
The French finance ministry stated late on Wednesday that France was not planning to accept Renault-Nissan boss Carlos Ghosn’s reported proposal to let Nissan purchase the French state’s stake in automaker Renault.
Nissan also stated on Thursday there were no strategies to modify the cross-shareholding ratios in the Renault-Nissan-Mitsubishi alliance.