Hyperdrive
Nissan Shares Drop on News of Renault Exploring Stake Sale
- Renault stock rose on news of potential cash-generating sale
- Nissan may be willing to purchase equity to rebalance alliance
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Nissan Motor Co. shares fell the most in six weeks on news that Renault SA is considering selling part of its stake in the Japanese carmaker.
Nissan’s stock declined as much as 4.8% in early trading in Tokyo on Monday, the biggest intraday drop since March 11. Renault shares fell 1.3% in Paris on Friday after Bloomberg reported the potential change in shareholding.