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Largest GM Shareholder Proposes Alliance with Renault-Nissan



Does it Make Sense for GM to Grow Larger when Most Think It should Downsize

Odd partners? If mega-investor Kirk Kerkorian has anything to do with it, Frances largest automaker and the only one that has a hope of entering the North American market anytime soon, Renault, already partnered with Japans number two automaker and the 7th largest globally, now that Hyundai-Kia past it last year, Nissan, would join forces with General Motors.

According to a securities filing, Kerkorian, who owns 9.9 percent of GM via his Tracinda Corp., of Beverly Hills, California,  private investment firm, sent a letter to the worlds largest automakers chairman Rick Wagoner today, according to Automotive News, "in which Tracinda proposed that
GM shareholder Kirk Kerkorian has proposed a rather unique short-term solution to the Generals cash woes.
General Motors Board of Directors establish a committee to immediately and fully explore, together with management, a possible opportunity to join the partnership-alliance between Renault, S.A. and Nissan Motor Co., Ltd,"; the exact wording of the filing.

Noted, Kerkorian sent a letter to Carlos Ghosn, CEO of Renault and Nissan, as well, plus Louis Schweitzer, a former Renault CEO. In the filing, Tracinda points out that Renault-Nissan is interested in purchasing "a significant minority
Reportedly Renault-Nissans Ghosn is interested in up to 20 percent of GM. (Photo: Nissan North America)
interest" in General Motors. The filing also states that Tracinda has contacted Ghosn about the issue.
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