Foxconn interest in Nissan on hold amid Honda merger talks, Bloomberg reports

(Reuters) -Taiwan's Foxconn (SS:601138 ) is pausing its interest in Nissan (OTC:NSANY ) Motor as the Japanese automaker explores a potential merger with Honda (NYSE:HMC ) Motor, Bloomberg News reported on Friday, citing people familiar with the matter.

Foxconn's decision comes after it sent a delegation to meet with Nissan's biggest shareholder Renault (EPA:RENA ) in France, the report said.

Nissan and Foxconn did not immediately respond to Reuters' requests for comment. Renault declined to comment.

Reuters this week reported that Foxconn, which manufactures Apple (NASDAQ:AAPL )'s iPhones, had approached Nissan about a bid, but the Japanese firm rejected it.



Foxconn has not given up completely on a bid for Nissan, Bloomberg News said, adding that the Taiwanese company prefers to see if the two Japanese auto giants make legitimate progress towards a deal before deciding on its next move.

A Honda-Nissan merger would create a $54 billion company producing 7.4 million vehicles annually, ranking as the world's third-largest automaker by sales, after Toyota (NYSE:TM ) and Volkswagen (ETR:VOWG_p ).

Source: Investing.com