Investing.com -- Foxconn (SS:601138), the Taiwan-based contract manufacturer, is reportedly exploring a potential stake purchase in Nissan (OTC:NSANY) Motor. The talks are being held with Renault (EPA:RENA), Nissan's biggest shareholder.
The information was reported by Central News Agency, a Taiwanese news outlet, on Thursday.
Jun Seki, a former Nissan executive who now leads Foxconn's electric vehicle business, is currently in France to meet with Renault officials. These discussions are part of Foxconn's ongoing talks with Renault to buy at least some of the French firm's stake in Nissan.
Foxconn has not made any immediate comments regarding the report, and Renault could not be reached for a statement. Nissan has declined to comment on the situation.
This potential stake purchase comes as Nissan is in discussions with its longtime Japanese competitor, Honda (NYSE:HMC). The two companies are exploring ways to deepen their cooperation, including a possible merger.
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