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Nissan asks Renault to reduce stake to 15%

French automaker's CEO says discussions are progressing

Nissan has grown frustrated with a capital alliance in which the smaller Renault owns 43% of the Japanese automaker.   © Reuters

TOKYO -- Nissan Motor has requested that Renault, its largest shareholder, reduce its stake in the Japanese automaker, a call that comes more than two decades after the French company rescued Nissan from a financial crisis.

Renault currently holds 43% of Nissan's shares, but Nissan wants that reduced to 15%, equal to Nissan's stake in Renault, Nikkei has learned. Nissan has long been frustrated by its position in a capital relationship in which it says Renault's shareholding in Nissan is too high.

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