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Report: French government denies deal with Nissan on Renault stake

The French government has not decided to sell its stake in automaker Renault SA to Nissan Motor Co. Ltd., Reuters reported, citing an unnamed official at the French finance ministry.

Paris owns a 15% stake in Renault. Reuters reported separately that the Japanese company was in discussions to acquire most of the French government's stake in Renault, citing people close to the matter.

The two carmakers, partners in the Renault-Nissan alliance, were in talks with the French officials on a proposal by Carlos Ghosn under which Renault would relinquish its control over Nissan, Reuters said, quoting three sources. Ghosn is the chairman, CEO and president of the French automaker and the chairman of Nissan.

Jonathan Adashek, a spokesperson for Renault-Nissan, dismissed the notion that the parties were in talks.

"Any discussion about a share transaction involving Renault, Nissan or the French state is pure speculation," Adashek said. The alliance "has no plans to change the cross-shareholding ratio of its member companies," he added.