Renault Eyes Stake In Nissan

January 18, 1999 / 10:59 AM EST / AP

Renault is considering buying a stake in Japanese automaker Nissan Motor Co. as part of its strategy of expanding in Asia.

Renault is "talking with a number of potential partners, including Nissan," according to a statement Monday from the French car and truck maker.

Several news reports over the weekend said Renault was one of several companies seriously considering a tie-up with Nissan.

"We don't exclude, after an in-depth study, thinking about an equity participation," Renault added.

On Saturday, responding to reports that Renault, DaimlerChrysler AG and Ford Motor Co. might be interested in buying part of Nissan, the Japanese automaker said it would welcome such offers.

"If they have proposals, we're willing to consider them seriously," Nissan said in a statement.

Unlike Ford, which jointly produces a minivan with Nissan for the U.S. market, Renault currently has no ties with the Japanese company.

Renault had a stellar year in 1998 and is looking for ways to expand in Eastern Europe and Asia.