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Let's 'forget' capital structure and move on, Renault tells Nissan

Senard calls for rebuilding trust and says Fiat Chrysler merger plans are off

Renault Chairman Jean-Dominique Senard has said he wants to focus on rebuilding trust with alliance partner Nissan.   © Reuters

TOKYO -- Renault Chairman Jean-Dominique Senard said he wants his company and Nissan Motor to "forget" about their unequal cross-shareholdings and focus instead on day-to-day operations and rebuilding trust.

Renault is the biggest shareholder in Nissan, with a 43.4% stake, while Nissan holds just 15% in its French partner, an arrangement Senard acknowledged is "sensitive." The relationship between the two companies has often been strained since the arrest of Carlos Ghosn, the former chairman of the two companies, last November. Ghosn's arrest came as he was preparing to formally propose a merger to Nissan CEO Hiroto Saikawa.

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