Nissan says is in ‘various discussions’ with Honda after reports the two will end merger talks
CNN
Nissan is still holding “various discussions” with Honda, the carmaker said Wednesday in response to media reports that it is set to scrap merger talks with its larger rival.
Nissan is still holding “various discussions” with Honda, the carmaker said Wednesday in response to media reports that it is set to scrap merger talks with its larger rival. The two Japanese companies announced in December that they would conduct negotiations over the following six months on a possible merger, a deal that would have created the world’s third-largest automaker and given them more resources to compete with a growing threat from Chinese carmakers. Japan’s Kyodo News and Nikkei newspaper have reported that Nissan is set to ditch those talks. In a statement on its website, Nissan noted media coverage “stating that our company has withdrawn the basic agreement for the merger with Honda” and said “this matter has not been announced by our company.” “Based on the memorandum of understanding signed on December 23 last year, Honda and our company are in the stage of advancing various discussions … and we plan to establish a direction and make an announcement around mid-February,” Nissan added. CNN has also contacted Honda.
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