Mitsubishi Motors, Nissan agree to form capital alliance: source

By Reuters
May 12,2016
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A logo of Nissan Motor Co is seen on a steering wheel as a woman drives her car in Golfech, southwestern France, April 23, 2016. REUTERS/Regis Duvignau

TOKYO (Reuters) - Mitsubishi Motors Corp <7211.T> has agreed to form a capital alliance with Nissan Motor Co <7201.T> at its board meeting on Thursday, a source familiar with the matter told Reuters.

The source said the two companies would hold a joint news conference later in the day, but gave no further details.

Sources familiar with the matter had said overnight that Nissan was considering taking a controlling stake in scandal-hit Mitsubishi. The two sides later confirmed they were in talks, without providing details.

(Reporting by Maki Shiraki; Editing by Edwina Gibbs)