The French government, the largest shareholder in Renault, has reduced its stake in the company to 15%, from 19.73% previously. The shares were sold for £1.07 billion.
Renault has announced that 10% of these shares will be offered to employees to give them a say in the way the company is run.
The French government previously owned 15% of the company. In 2015, it bought the additional 4.73% stake when a legislative change regarding the voting rights of long-term shareholders prompted then economy minister Emmanuel Macron to increase the Renault holding, albeit temporarily, reports Bloomberg.
France remains Renault’s largest shareholder, ahead of Nissan, by a small margin.
Renault is currently valued at £22.6bn. The brand aims to increase this with an ambitious plan to boost operating profit and strengthen sales in existing and new segments. It's part of Renault's Drive the Future initiative, which was recently detailed.
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JCarter
Corbyn?
So would Jeremy Corbyn love to his hands on a stake in JLR as part of a nationalisation programme....
jagdavey
JLR is owned by Tata Motors!!!
How could Jeremy Corbyn nationalise JLR when its not even a British company????
It belongs to the Indian firm Tata, so there's no way he's gonna do that!!!!!
beechie
Well, in that case...
...how are Nissan able to own Renault shares?
FastRenaultFan
They bought some.
Renault bought shares in Nissan in 1999 and they formed the Renault-Nissan allience which is now the Renault-Nissan-Mitsubishi allience as they recently bought shares in Mitsubishi.
During the time that Renault-Nissan also had Nissan buy shares in Renault as thats what goes on in these big companies.
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