March 2, 2018 / 7:38 AM / a year ago

Mergers within Renault-Nissan-Mitsubishi alliance possible but not a goal: Ghosn

Carlos Ghosn, Chairman and CEO of Renault, speaks during the French carmaker Renault's 2017 annual results presentation at their headquarters in Boulogne-Billancourt, near Paris, France, February 16, 2018. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The head of Renault, Carlos Ghosn, on Friday did not rule out the possibility of mergers among members of the Renault-Nissan-Mitsubishi alliance (RENA.PA) (7201.T) (7211.T) but said this was not necessarily a goal.

Asked in an interview on France’s BFM Business whether mergers could happen to reinforce the alliance, Ghosn said: “Why not”, before adding that that this was not “an objective in itself.”

The Renault-Nissan-Mitsubishi alliance said on Thursday it would speed up the convergence between the three companies on how they work in key areas, as part of a broader plan to deliver cost savings and boost profits.

Asked about automaker Geely’s purchase of a $9 billion stake in Mercedes maker Daimler, which emerged earlier this week, Ghosn said the Chinese’s group’s “strategy was a little difficult to understand.”

Reporting by Gwenaelle Barzic, Writing by Sarah White, Editing by Leigh Thomas

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