Japanese carmaker Nissan is seeking to raise its stake in Renault to 25% or higher to block management interference in the alliance by the French government, the Nikkei Asian Review said on Monday, without citing sources.
Under Japan's corporations law, Renault would lose its 43.4% share of voting rights in Nissan if the French automaker became at least a quarter-owned by its Japanese partner, the Japanese financial publication said.
Nissan held a board meeting on Monday to discuss a range of issues including the situation surrounding Renault's voting rights, the group said in a statement earlier. Nissan could not immediately be reached outside Asian business hours.
Paris raised its stake in Renault from 15 to 19.7% in April to secure double voting rights in the carmaker, prompting a public conflict with Renault-Nissan Chief Executive Carlos Ghosn.
Since Renault rescued Nissan from near-bankruptcy in 1999, the Japanese carmaker has outgrown its parent to account for two-thirds of combined vehicle sales and a bigger share of profit.
