Nissan shares plunged on Wednesday as reports said the struggling Japanese carmaker was walking away from merger talks with rival Honda. The Nikkei business daily and other local media earlier said Honda had proposed making Nissan its subsidiary,

There's strife of the horizon as Nissan vehemently opposes Honda's suggestion of making the struggling carmaker its subsidiary.

Two of Japan’s largest automakers have been in talks to combine their operations to form one of the world’s biggest car groups.