Ghosn: No Need to Restructure Renault-Nissan Alliance

Carlos Ghosn, CEO of Renault SA and Nissan Motor Co., tells reporters the alliance between the companies is "stable" and doesn't need an adjustment in its capital structure.

The possibility arose last month when the French government hiked its stake in Renault to nearly 20% from 15%. The move was used to block a board proposal that would have limited the government's voting power.

Ghosn says there is no reason to alter the alliance's capital structure unless doing so would provide a clear operational or strategic advantage. He insists the alliance already has "everything it needs" in terms of size, capital and technology.

Renault holds a 43% voting stake in Nissan. Some analysts have speculated that Nissan might seek to increase its own 15% nonvoting stake in Renault to restore balance. Others suggest Renault could reduce its holding in Nissan to less than 40%, which would give the Japanese carmaker voting rights in Renault.

Ghosn insists the current distribution of shares between the partners has no influence on alliance operations. "There's no reason for us to change," he adds.