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1/4, 11:55 AM (Source: TeleTrader)
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PSA shareholders approve merger with FCA

PSA shareholders who possess double voting rights approved on Monday the group’s merger with Fiat Chrysler (FCA).

At the shareholder meeting, 99% of shareholders backed the merger and, therefore, creating the world’s fourth-largest automaker in the form of a new company called Stellantis.

PSA Chief Executive Carlos Tavares said at the online meeting that the company is "ready for this merger," and added that the final date for the closing would be announced shortly if all shareholder approvals were granted. "We face an important challenge which is the defense of the freedom of mobility of our citizens: safety, affordable prices and less polluting," he stated.

Breaking the News / TF