Renault shares rose sharply over the weekend following renewed media reports of merger talks between the French carmaker and its longstanding alliance partner Nissan. Renault’s stock was up 4.6% at 97.41 euros, after Bloomberg said the companies were in merger discussions, citing unidentified sources, Reuters reported. Reuters reported earlier this month that the carmakers were discussing a deal, at Chief Executive Carlos Ghosn’s initiate, that would see Nissan acquire much of the French government’s 15% Renault holding, as a prelude to a merger. “We do not comment on rumors and speculation,” Renault-Nissan spokesman Jonathan Adashek said when asked about the latest report. A French finance ministry spokesman also declined to comment. The Renault-Nissan alliance, underpinned by cross-shareholdings, has wrestled intermittently since its 1999 inception with full merger proposals that have foundered on objections from France, Renault’s biggest shareholder.
