GM to discuss Nissan-Renault tie-up Friday
TOKYO, July 4: General Motors Corp.'s board will meet on Friday to discuss shareholder Kirk Kerkorian's proposal to join an alliance between Nissan Motor Co. and Renault SA, Bloomberg News reported on Tuesday.
Citing people familiar with the plans, Bloomberg said directors of the world's biggest auto maker would use a previously scheduled conference call on July 7 to review the proposal.
A GM spokeswoman in Tokyo said she had no knowledge of the meeting. GM does not confirm board meetings in advance, the report said.
GM's board held an unscheduled meeting last Friday to discuss the proposal filed on the same day by Kerkorian, GM's biggest individual shareholder. The company has said the board would meet again for further talks, without giving a time frame.
Directors at Nissan and Renault, both run by CEO Carlos Ghosn, on Monday approved exploratory discussions with GM if the U.S. auto maker endorsed Kerkorian's proposal.