(AOF) – Renault (+0.04% to 46.84 euros) displays one of the rare increases in the CAC 40, which allows it to consolidate its place among the strongest increases of the year within the index: 28.52%. The automaker is buoyed by reports from Taiwanese news agency CNA that Jun Seki, a former Nissan executive who now heads electronics maker Foxconn’s electric vehicle division, is in France to discuss a possible takeover. shares of the French manufacturer in Nissan Motor.
These negotiations come after the emergence on Tuesday evening of rumors of talks between Nissan and Honda aimed at deepening their cooperation, or even considering a merger. Citing sources close to the matter, Bloomberg said yesterday that Renault is open to Nissan Motor continuing merger negotiations with Honda Motor, the French manufacturer seeking to protect itself from the crisis hitting its long-time partner.
Following the latest sales by Renault of Nissan shares as well as the cancellation of the shares acquired as part of these repurchases by its Japanese partner, Renault’s stake in Nissan’s capital is 35.71%. The French group is its largest shareholder. UBS cites an article from the Financial Times published at the end of November according to which Nissan was looking for a long-term shareholder to replace part of Renault’s stake, the Frenchman would be willing to sell part of its shares to Honda.
A Honda-Nissan merger “would recreate an exit route for Renault”, Jefferies said yesterday, which envisages a higher Nissan share price as well as greater liquidity from the sale of Nissan shares by Renault. The “small risk” that the broker perceives is the scenario in which Renault would hold a reduced and illiquid stake in a new entity without influence.
A Taiwanese giant active in the automobile industry
Known for being Apple’s subcontractor in Asia, Foxconn has already agreed with an automobile manufacturer to tackle the electric market: it created with Stellantis in June 2023 an equal joint venture called SiliconAuto and dedicated to the design and marketing of a range of semiconductors intended to supply the automotive industry from 2026, in response to the growing demand for functionalities and software modules, particularly for electric vehicles.
SiliconAuto’s products will notably supply STLA Brain, the new electrical/electronic architecture and software from Stellantis.
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