Mitsubishi Corp could take 10% stake in Renault in alliance rejig: report

PARIS (Reuters) – Japanese conglomerate Mitsubishi Corp <8058.T> could potentially take a 10% stake in French carmaker Renault as part of scenarios being discussed to reinforce an alliance between Renault, Nissan <7201.T> and Mitsubishi Motors, Les Echos newspaper reported on Thursday.

Restructuring plans, plant closures and cost savings schemes are being discussed, with changes in the capital structure of the three-way alliance also envisaged, Les Echos reported.

Renault could not be reached for immediate comment.

At present, Mitsubishi Corp has a 20% stake in Mitsubishi Motors, which counts Japan’s Nissan as its biggest shareholder.

Nissan in turn owns 15% of Renault and Renault has 43% of Nissan.

(Reporting by Sarah White; editing by Jason Neely)