General Motors chief executive Rick Wagoner and Renault and Nissan counterpart Carlos Ghosn met Wednesday at Renault's headquarters in the suburbs of Paris for their first talks since agreeing to consider a possible global alliance in July. Talks, which were prompted by GM's largest shareholder Kirk Kerkorian, have reportedly stalled between the three car makers. Reports in the Wall Street Journal and New York Times suggest the sticking point is GM's demand that Renault and Nissan pay an additional multi-billion dollar payment on top of any share purchases as an "equalizing contribution." Unfortunately for the bankers, GM's demand may be a dealbreaker. For example, both the BBC and The New York Times quote unnamed sources who say Ghosn would never agree to such a dowry. GM's demand for a premium is anathema to Ghosn's reported suggestion that the three acquire stakes in each other, according to the BBC. However, GM reportedly justifies its demand for a premium because it would bring more assets to the table in a three-way alliance. Despite the demand for a dowry, all parties agreed to continue talks into mid-October. In addition, Ghosn and Wagoner still met, but the face-to-face may have been one of simple convenience as Wagoner was already in France for the opening of the Paris Autoshow, which starts Thursday. —Matthew Wurtzel
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