France's finance minister said there is no plan to remodel the two-decade alliance between Renault SA and Nissan Motor Co., whose architect, Carlos Ghosn, remains in jail two months after he was arrested in Japan on allegations of financial crimes.
"No shareholding re-balancing or modification of cross shareholdings between Renault and Nissan are on the table," Bruno Le Maire told Journal du Dimanche in an interview published late Saturday. France wants "solid and stable" governance at the helm of Renault, he said.
Tensions are simmering on both sides of the partnership because of its lopsided structure. While Nissan has outgrown Renault in sales and profits, the Japanese company has far less influence, owning a 15 percent non-voting stake in Renault, which in turn has a 43 percent holding of Nissan. The French government owns 15 percent of Renault.