GM Agrees to Joint Study With Renault, Nissan
General Motors chairman/ceo Rick Wagoner and Carlos Ghosn, his opposite number both at Renault and Nissan, met one-to-one behind closed doors late Friday evening.
It was announced after the meeting that their companies are to participate in a ninety-day study as a prelude to a possible three-way global alliance. However, the duo made it clear that all future discussions will be conducted beneath the wraps.
“It is important to let our teams work on this review without distraction, and, therefore, we will not be providing further public comments about it at this time,” read a joint statement.
However, the godfather of the proposed alliance, GM’s largest shareholder Kirk Kerkorian, is not a happy man. He harbors fears that Wagoner - whose career is at risk should an alliance materialize - will pay only lip service to the concept. Moreover, Wagoner’s own GM recovery plan could well be sacrificed on the altar of a three-way deal.
Kerkorian is therefore urging GM’s board not to leave the alliance evaluation solely in Wagoner’s hands but to set-up a board committee for that purpose.
An alliance would likely result in Renault and Nissan both taking a 10% stake in the US automaker - currently the globe’s largest by sales volume.
Los ceo`s de GM (Rick Wagoner) y Renault/Nissan Carlos Gosh, mantuvieron una conversación a puerta cerrada el pasado viernes.
Después de esta reunión se anunció que las compañías iban a realizar un estudio de 90 días para ver la viavilidad de la unión global de las tres empresas. El duo, anunció en una Nota de prensa conjunta que no se harán más comentarios públicos hasta la decisión final.
El “Padrino” de la a lianza propuesta y el accionista mayoritario de GM Kirk Kerkorian, no está contento con las decisiones que está tomando Wagoner, ya que si esta alianza llegase a salir, el plan de recuperación de GM se sacrificaria por la alianza.
Kerkorian, está demandado urgentemente a la junta directiva de GM que la decisión de esta alianza no quede solo en manos de Wagoner, y de que se cree una comisión para este tema.
Si esta alianza surgiera, tanto Nissan como Renault adquirirían un 10% de las acciones de GM, actualmente la empresa más grande en ventas a nivel mundial.
(via WARC) and comented and translated in spanish by me.