Renault board backs plans to reshape alliance with Nissan – source

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LONDON (Reuters) – Renault (EPA:RENA)’s board voted in favour on Sunday to reshape the French carmaker’s alliance with its Japanese partner Nissan (OTC:NSANY), a source said.

The agreement, which will retool the two-decade-old alliance, still needs backing from Nissan’s board before it is formally unveiled on Monday in London.