GM, Nissan, Renault Talks Grind Into Second Gear

29 September 2006

PARIS: After thirteen weeks of intermittent talks about a possible three-way alliance, General Motors' chairman/ceo Rick Wagoner and Renault-Nissan ceo Carlos Ghosn agreed Wednesday . . . to continue talking.

The power duo met for over three hours at Renault's headquarters outside Paris. According to insiders, Ghosn argued that a joint venture could save some $10 billion (€7.87bn; £5.3bn) across both companies.

Wagoner was reportedly sceptical, opining that the benefits were disproportionately in favor of Nissan-Renault. GM, he said, would require a contribution of billions to ensure a fair and equitable. Ghosn thought about this long and hard for around five seconds. "Nope", he replied.

Nonetheless, the pair did agree on one thing - to keep the gabbing going until October 15.

Data sourced from Wall Street Journal Online; additional content by WARC staff