A former Rothschild dealmaker, Macron was economy minister at the time he ordered the increase.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The arrest of Renault-Nissan boss Carlos Ghosn has triggered new attempts by the Japanese carmaker to shake off the control of its French parent adding to the problems piling up on President Emmanuel Macron's desk in the Elysee Palace.In April 2015, as a 37-year-old economy minister with then-unknown presidential ambitions, Macron ordered a surprise government stake increase in Renault, designed to secure double voting rights for the state.The overnight move profoundly rattled the Japanese end of the Renault-Nissan alliance.The Renault-Nissan crisis may draw more attention to the risks of his bold interventionism, once seen as refreshing.The year before his move on Renault, the government under Socialist President Francois Hollande had passed the Florange law.COURTESY CALLOver several months starting in late 2014, Macron, a former Rothschild dealmaker, tried in vain to dissuade Ghosn and the Renault board from proposing an opt-out at the company's April 30 general meeting.Macron's staff initially dismissed Saikawa's demands that Renault sell down its controlling Nissan stake, restore voting rights to Nissan's 15 percent Renault holding and relinquish control of the alliance seeing them as dictated by Ghosn, who at that point remained Nissan CEO.This week, executives from Renault, Nissan and Nissan-controlled Mitsubishi are gathering for the first time since Ghosn's arrest.
FOLLOW THIS ARTICLE