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Renault shares fall back as Nissan say no plans to change ownership ties

Reuters  |  PARIS 

(Reuters) - shares fell in early session trading on Thursday, as said the Renault-Nissan-alliance had no plans to change the cross-shareholding ratios of its member companies, echoing views from the

shares were down 1.4 percent in early session trading, giving up some of the gains it made in the previous day, when the stock had ended 5.6 percent higher.

shares rallied on March 7, after reported that Renault and its alliance partner were discussing plans for a closer tie-up in which the Japanese carmaker would acquire the bulk of the French state's 15 percent Renault holding.

The French said late on Wednesday that was not prepared to accept Renault-boss Carlos Ghosn's reported proposal to let Nissan buy the French state's stake in carmaker Renault.

Nissan also said on Thursday there were no plans to change the cross-shareholding ratios in the Renault-Nissan-alliance.

(Reporting by Sudip Kar-Gupta; editing by Luke Baker)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 16:32 IST