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First DaimlerChrysler, Now General Nissan?

Friday June 30, 2006

Rumor has it that GM’s top shareholder, Kirk Kerkorian, has requested that they form an “alliance” with Renault-Nissan. An emergency meeting is being held today to discuss the matter, which is a move that would indicate that they are taking his proposal at least somewhat seriously.

According to Kerkorian, Renault-Nissan would be ready to “buy a significant minority interest” in GM and the matter has already been discussed with the Renault-Nissan Alliance CEO, Carlos Ghosn.

The proposition, made by Kerkorian through a letter sent to General Motors’ CEO, Rick Wagoner, is that the GM board of directors form a commitee to explore the possible opportunity of joining the existing Renault-Nissan Alliance.

GM’s official response, via press release, was this:

FOR RELEASE: 2006-06-30

DETROIT– General Motors Corp. (NYSE: GM) has received no offer or proposal from Renault/Nissan with respect to its participating in the Renault/Nissan Alliance, as suggested in the 13-D Filing made today by the Tracinda Corporation. The Tracinda request will be taken under advisement by the GM Board of Directors. At this time, we have no further comment.

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One Comment leave one →
  1. Saturday August 19, 2006 2:54 pm

    I like your diary. Allow to be friends!

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