Nissan Motor Co. is “absolutely not" in talks to sell its stake Mitsubishi Motors Corp., Nissan’s chief operating officer Ashwani Gupta said on Monday, following a report the carmaker was considering pulling out of its alliance partner. Such a deal would fundamentally reshape a three-way alliance that includes France’s Renault built by Carlos Ghosn, former chairman of the alliance. At Monday’s closing price in Tokyo, Nissan’s stake in Mitsubishi Motors was worth $975.8 million. Nissan shares rose 5% on the Bloomberg report, while Mitsubishi Motors, which said it would continue to collaborate with its alliance partner, gained 3%. Nissan last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China.

Source: Mint November 16, 2020 15:00 UTC