Nissan is still holding “various discussions” with Honda, the carmaker said Wednesday in response to media reports that it is set to scrap merger talks with its larger rival.

Nissan Motor Co. is pulling out of its deal with Honda Motor Co. to combine both brands and regain global competitiveness, the Nikkei newspaper reported Wednesday.

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