TOKYO (Reuters) – Former Nissan (OTC:) CEO Carlos Ghosn has cast doubt on the success of a potential merger between the two companies. Honda (NYSE:) and Nissan, saying the latter's plans “don't make sense” in a press conference on Monday.
Honda and Nissan are expected to announce the start of business integration talks, two people familiar with the matter told Reuters, as the automakers strive to survive in a rapidly changing industry landscape.
“From an industrial point of view, there is duplication everywhere” between the two companies, Ghosn said, adding that integration is necessary in the merger process, but there is no integration between Honda and Nissan.
“If this merger happens… I personally don't think it will be successful,” he added, speaking online from Lebanon, where he currently resides.
Ghosn fled Japan in December 2019 while awaiting trial on charges of underreporting profits, breach of trust and embezzling company funds.
