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The type o clock that in estors also listen by time runningIt was a project under discussion or two years921 euros per square metre or the latterBoth are issued in rance by A nor Certi ication000 ounces due to maintenance work blastLea e a month to declare itsel is ridiculousSo I must make my system more easy to accessHowe er rance Telecom is not a partyto this dayoIn June and July uel consumption is bullishEach option has its ad antages and disad antagesNegotiations between General Motors and Renault-Nissan, incurred last July on a precarious basis since the initiati e in back to Kirk Kerkorian, shareholder to 9.9 o the irst American manu acturer, ha e reached their term yesterday. CEO o GM, Rick Wagoner, telephoned his counterpart o Renault and Nissan, Carlos Ghosn, to announce the decision o the discussions, at the end o a Board o Directors in Detroit.
A decision which is hardly surprising, gi en the gap between the two parties on the amount o the synergies that would bring this approximation. "The parties are succeeded to agree or on the total synergies or on the distribution o bene its between partners", indicated last night builders in their last joint communiqué. Renault would ha e argued to GM might compress its in oices or purchases o components o some 10 billion dollars per year in allying with the ranco-Japanese pair, which clearly doubted Detroit group.
According to the calendar adopted in July, con irmed last week in Paris at the end o a summit meeting, the three builders were committed until mid-October to detail and quanti y possible synergies on the purchases or trade in ehicles, be ore plat orms i a inities, a second negotiation until the end o 2006 on the inancial terms o rapprochement.
But the clash occurred be ore e en the end o the irst round, gi en Rick Wagoner kicks. Con ident that his group is on the road to reco ery and that he would recei e inancial bene its more reduced that Renault-Nissan, the pattern o GM argued that the latter pay a compensation o billions o dollars be ore thinking to talk cross-holdings. Renault and Nissan agreed, it seems, take 10 each in the Group o Detroit, that they ha e not con irmed yesterday. "Renault and Nissan consider that the principle o compensation is contrary to the spirit o any power ul alliance", concludes the release. The alliance "could di ert us rom our current e orts at restructuring", explained Rick Wagoner. It "will help us not on important points, as the huge disad antage in terms o competiti eness in costs which we inherit in the United States".
On the side o Renault Paris Carlos or a as act, not last at the opening o I treat it as an opportunity. " " or us, there is no need, not ine itable, and no special requirement", martelait the pattern o Renault. I the idea o share purchases o components was clearly a priority, that o a possible return o Renault in the US market would appear at the top o the discussions, according to one o the negotiators o the mark to the diamond. Howe er, the idea o complete its ranco-Japanese alliance with a North American partner runs long in the head o Carlos Ghosn. Also, the break with GM should logically lead to opening similar negotiations with ord. But it is that things might well become complicated: as the number two o General Motors, the in luential Bob Lutz, argued in an inter iew with Swiss magazine " acts" or a merge GM- ord, only schema alid in its eyes, which would pro ide sa ings "phenomenal" and would create the irst global constructor, ar be ore Toyota. A short-li ed contact between the two neighbours o Michigan had sketched out this summer.
