Nissan Motor Co (TYO:7201) has ended merger talks with Honda Motor (TYO:7267), halting plans for a deal to create the world's third-largest auto group, Kyodo News reported Thursday.
The decision follows Honda's proposal for Nissan to become a subsidiary, which faced strong opposition within Nissan.
Honda, frustrated with Nissan's slow turnaround, had pushed for the change despite the original plan to merge under a holding company by 2026.
Mitsubishi Motors, Nissan's alliance partner, is also likely to avoid the talks due to concerns over reduced autonomy.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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