Former Nissan chief Ghosn: Seeking an agreement with Honda is a desperate move, and there is little chance of synergy between the two companies.

Former Nissan Auto Chairman Carlos Ghosn stated that the troubled Japanese Auto Manufacturers are seeking to reach an agreement with Honda Motor, indicating that the former is in a "panic mode." "This is a desperate move," Ghosn said on Friday, "It is not a pragmatic Trade, because frankly, it is difficult to find synergies between the two companies." Ghosn indicated that the negotiations regarding a potential merger with Honda suggest that Nissan Auto is in a "panic mode." Earlier this week, Honda confirmed that the company is considering various options, including merging with Nissan, capital alliances, or establishing a holding company. Reports indicate that Hon Hai Precision (also known as Foxconn) is currently...

Global Market Report12:09 ET

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