Behrouz Mehri / AFP
Carlos Ghosn: Now he faces the threat in the Netherlands too
France has announced legal action in the affair surrounding former Renault top manager Carlos Ghosn. It will be reported, confirmed the French Minister of Economy Bruno Le Maire on Wednesday the TV station BFMTV. If the state is a company shareholder, it must ensure that its leadership works well, says Le Maire. The judiciary must then decide in the matter. France holds 15 percent of the Renault Group. Until when the ad should be submitted, said Le Maire initially not.
Renault has discovered dubious expenses of around 11 million euros at a subsidiary in the Netherlands. As the Renault Board of Directors announced on Tuesday evening, this includes, among other things, costs for air travel of the former CEO Ghosn. Legal action against Ghosn should also be considered in the Netherlands.
A review of the joint subsidiary with the Japanese partner Nissan Show stock market chart confirmed first indications that there were also shortcomings in terms of financial transparency and expenditure control procedures.
After Ghosn’s arrest in Japan, the French-Japanese car alliance between Renault, Nissan and Mitsubishi he had created and controlled had fallen into a serious crisis. Ghosn had been accused of violating stock market regulations in Japan. The former car manager was also repeatedly charged with further alleged offenses. In April he was bailed for the second time from remand. Ghosn had repeatedly denied the allegations in Japan.
Board of Directors advises on merger with Fiat Chrysler today
Meanwhile, the board of directors of the French car maker wants on Wednesday on the merger Proposal of the Italian competitor Fiat Chrysler Automobiles Show stock market chart (FCA) advise. The panel had decided to continue to examine the possibility of such a merger with interest and continue the discussion, said Renault on Tuesday evening.
According to insiders, Fiat Chrysler and the French government had previously come to a compromise on the future involvement of the state in Renault, thereby laying the groundwork for the launch of formal talks. Fiat Chrysler has Renault last week proposed a good 30 billion euro merger. Renault has a 15% stake in the French state.
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Fiat Chrysler had suggested that both groups of companies – Renault and FCA – each hold half of the new company. Through the merger, the companies hope for annual savings of five billion euros. Together, they would come to 8.7 million vehicles a year.
rei / mg / dpa-afx, rtr