Renault studies Nissan link-up

French carmaker Renault said yesterday it was holding talks with a number of possible partners, including Japanese company Nissan…

French carmaker Renault said yesterday it was holding talks with a number of possible partners, including Japanese company Nissan, and did not rule out taking a stake in the company.

"We have said several times that our development strategy would be achieved through an increased presence in Asia," Renault said in a statement.

"We are studying how to implement this strategy and ... we are holding talks with a certain number of potential partners, including Nissan.

"We do not rule out the prospect of taking a stake (in Nissan) after an in-depth study," Renault said.

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The Japanese business daily Nihon Keizai Shimbun said Saturday that Renault was aiming to take a 20 per cent stake in Nissan Motor Co, while press reports at the weekend also said DaimlerChrysler and Ford were also seeking a tie-up with the Japanese company.

Taking a stake in Nissan would be good for Renault, enabling it to boost its virtually non-existent presence in Asia at a stroke, and giving it a new foothold in the United States.