PSA Talks Merger With Fiat Chrysler
Carmaker Fiat Chrysler, an Italian-U.S. partnership, and PSA, France’s largest vehicle maker and owner of the Peugeot brand, are in merger talks to reveal an automotive giant worth $ 50 billion.
PSA’s Board of directors will meet on Wednesday to assess the progress of potential merger talks with Fiat Chrysler, The Wall Street Journal (WSJ) announced.
Fiat Also Held Talks With Renault
Fiat Chrysler Chairman of the Board of Directors John Elkann, who previously carried out merger negotiations with Renault, said in July that Renault is not conducive to the current conditions for the merger offer in May, but the company is ready to enter the restructuring process.
Elkann described the offer as an example of courage, while noting that merger talks with Renault last month could not be resumed due to political problems in Paris, La Stampada reported.
