France 'extremely vigilant' on Renault after Ghosn arrest

Nov 20, 2018 | News On Japan

Nov 20, 2018 (Japan Today) - President Emmanuel Macron on Monday said France would be extremely vigilant about the fate of Renault and its alliance with Nissan after the arrest of the French auto group's boss Carlos Ghosn in Japan.

Macron, speaking at a news conference in Brussels with Belgian Prime Minister Charles Michel at the start of a two-day state visit said: "It is too early to comment on the facts."

But he went on to add that the French state, as a Renault shareholder, "will be extremely vigilant as to the stability of the alliance and the group."

Ghosn, one of the world's best-known businessmen, was reportedly under arrest in Japan on Monday in a shocking fall from grace linked to allegations of financial misconduct.

Japanese media said Ghosn had been arrested after questioning by prosecutors for various improprieties including under-reporting his income.

The news rocked the auto industry, where Ghosn is a towering figure credited with turning around several major manufacturers and who leads an alliance of Nissan, Renault and Mitsubishi.

Macron said his government would give "all its support" to employees of Renault, one of France's most emblematic companies.

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