Renault board approves GM-Nissan talks

They’ve approved discussions, but they don’t like it.

Immediately after the French car maker’s board meeting, a blunt press release coldly stated:

“The Board of Directors approved the position proposed by Carlos Ghosn: Exploratory discussions with General Motors, concerning a potential alliance, could start if General Motors Corporation makes the proposal.”

The Frenchies were always expected to be tougher to deal with than Nissan, and Euro analysts can see no benefit in what increasingly looks like a hostile bid for Renault by GM.

The deal is expected to cost Renault around $US1.6 billion, hitting the company smack in the credit rating kisser.

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