That's how analysts portray potential talks between Nissan and two European automakers -- Renault SA and DaimlerChrysler AG -- that have both said they would consider buying a stake in Japan's number two car company.

``With DaimlerChrysler, I think there would be some very tough negotiations,'' said Nomura Securities analyst Seiji Sugiura. ``It would be very hard for Nissan to answer what they would do with their two trillion yen ($17.6 billion) in interest-bearing debt or how they would improve shareholder value.''

``I think Renault would make for friendlier negotiations,'' he added. Because the French government still holds a sizable stake in Renault, he said, shareholder value may be less of an issue.

But DaimlerChrysler was the stronger company and offered greaterregional symmetries, given its strength in North America and Europe and its weakness in Asia, he said.

An analyst at a foreign institution, who requested anonymity, also saw DaimlerChrysler as the more sensible choice, although for different reasons.

``What Ford and DaimlerChrysler have taught us is that no longer are people buying for distribution, but they're buying for brand management,'' the analyst said.

``Nissan would not fit well into a Renault brand. It would be a better brand for DaimlerChrysler, and the Chrysler management is more effective at cutting costs.''

Recent media reports in Japan and Europe have said DaimlerChrysler and Renault, as well as Ford Motor Co, were mulling taking a stake in Nissan.

But with Ford already holding a controlling stake in MazdaMotor Corp, Japan's number five automaker, analysts doubted the US company would take a significant stake in Nissan.

Nissan continues to deny it is in talks about an equity tie-up with anybody, although Nissan president YoshikazuHanawa said on Tuesday such talks could conceivably begin with DaimlerChrysler when that company's co-chairmen visit Tokyo later this week.

He also struck a positive tone about a potential relationship with Renault. Asked whether an equity tie-up with the French carmaker might be difficult because it too was restructuring, Hanawa said: ``A company that's in the process of getting back on its feet might actually be easier to work with.''

``I think it could be said that our concerns would be similar and there would be many areas where we might be able to cooperate,'' he added.

With DaimlerChrysler, talks have already dragged on for more than a year about a comprehensive tie-up in commercial vehicles, including DaimlerChrysler possibly taking a major stake in Nissan truck-making affiliate Nissan Diesel Motor Co.

DaimlerChrysler officials recently said Nissan Diesel's heavy debts, including 200 billion yen in interest-bearing liabilities, remained a stumbling block to a deal. With regard to an equitystake in Nissan itself, Hanawa said any agreement would take some time to reach.

ING Baring Securities analyst Chikao Masuzawa agreed, noting that foreign suitors were likely to be very cautious given Nissan's high levels of debt.

She added: ``I think once Nissan has cleared away one or two big problems, things might make progress.''