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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.

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

    I like your diary. Allow to be friends!

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