A tie-up between Renault-Nissan group and Daimler AG to cut costs and share development spend is moving closer, although analysts remain unconvinced of the benefits, Reuters quoted sources as saying. Car industry alliances have frequently suffered from poor performance, and analysts were subdued about the benefits of a Renault-Nissan-Daimler deal, citing the lack of potential for immediate and quantifiable cost savings. As a result, the firms' share prices were little moved on Friday. Daimler edged up higher, Renault rose just short of 1 percent versus slight gains among European auto peers. Nissan closed 1.2 percent higher at 777 yen on Friday. Earlier, two sources familiar with the matter said Daimler, maker of Mercedes-Benz cars, would be willing to take a stake of about 3 percent in Renault SA in April in exchange for its own treasury shares. People close to Renault said the company's board would meet on April 6 to discuss the matter. One source said the French carmaker would take a small stake in Daimler although junk-rated Renault, worth less than a third of its German partner, would have greater difficulty financing it. One industry source, who asked not to be identified, said all options were still being discussed and everything from Nissan acquiring equity in Daimler to a strictly project-based partnership was on the table. All three companies declined to comment.
