Carlos Ghosnâ€™s grand alliance showing cracks two years after his arrest

Nov 17, 2020 | News On Japan

Nov 17, 2020 (Japan Times) - Two years after the stunning arrest of Carlos Ghosn over alleged financial misconduct, discussions are underway inside Nissan Motor Co. that could fundamentally reshape the worldâ€™s biggest car alliance and unwind a key part of its former chairmanâ€™s legacy.

The automaker is exploring ways to sell some or all of its 34% stake in Mitsubishi Motors Corp., people with knowledge of the matter said. Concern is mounting within Nissan that it will take longer for the company to recover from the pandemic-induced crisis, said the people, who asked not to be identified because the discussions arenâ€™t public. A sale may be the first step in a broader review of the three-way alliance that also includes Renault SA, they said.

Nissan shares jumped 5.4% to their highest since June, leaving the stock down 26% this year. Mitsubishi Motors shares dipped but recovered to close 2.5% higher in Tokyo. Renault shares rose as much as 4.3% in Paris.

Martinelli Breaks Japan Hearts as Brazil Win 2-1 in World Cup Thriller

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Strong Quakes Strike Japan 11 Times Since April

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Japan Books Spot in World Cup Knockout Stage After Sweden Draw

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