France is supporting PSA/Fiat-Chrysler merger
The French state supports the merger plans of automaker PSA and Italian-American counterpart Fiat Chrysler. That is what Bloomberg press agency writes based on insiders. France has an interest in PSA, the manufacturer of car brands such as Citroën, Peugeot and Opel.
France’s support for the letter of intent is important as one of the larger shareholders of PSA. The PSA board will meet this week to approve the details of that agreement.
PSA and Fiat Crysler announced at the end of October that they would like to continue together. The new company will be led by PSA director Carlos Tavares, while chairman John Elkann of Fiat Chrysler will also fulfill that role at the merged company.