Renault's Senard says it does not need to merge with Nissan

Renault Chairman Jean-Dominique Senard said on Wednesday that there was no need for a merger with its partners Nissan and Mitsubishi.

"We do not need a merger to be efficient," Senard said at a news conference. "I bet very well that in a few years time, given what we are doing now, this alliance is going to be the most powerful combination of companies in the world," he said.