Former Nissan Chairman Carlos Ghosn stated in an interview on December 20 local time that Nissan's pursuit of an agreement with Honda indicates that the former is in a "panic mode." "This is a desperate move," Ghosn said, "This is not a pragmatic deal because, frankly speaking, it is difficult to find synergies between the two companies." Earlier this week, Honda confirmed that it is considering various options, including merging with Nissan, capital alliances, or establishing a holding company. Ghosn noted that Nissan and Honda operate similar brands and products in the same market. He expressed skepticism about the benefits of a merger between the two companies. He believes that the Ministry of Economy, Trade and Industry of Japan is pushing Honda to pursue the deal.