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Nissan Open Talks With GM

Tuesday July 4, 2006

Monday, Nissan has approved opening talks with GM over the possibility of forming an alliance. After meeting to discuss the matter, Nissan’s board of directors has made an official statement regarding their decision, which is that they should “proceed with exploratory discussions concerning a potential alliance with General Motors”.

Reports indicate so far that Nissan and Renault could buy 20% of shares in GM. However, those talk only aappear to be on condition that GM endorses the proposals made by Kerkorian and York of Tracinda Corp., GM’s current major shareholder.

Should they chose to go ahead with it, the resulting alliance could be the biggest in the history of the automotive industry.

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