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10/29/2019, 8:10 PM (Source: TeleTrader)
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Peugeot, FCA in merger talks - report

Peugeot manufacturer PSA Group and Fiat Chrysler Automobiles (FCA) have engaged in a discussion about a potential all-share merger, according to people familiar with the matter cited by the Wall Street Journal on Tuesday.

Peugeot Chief Executive Carlos Tavares would reportedly serve as the CEO of the proposed $50 billion worth auto giant whereas chair of the Italian-American automaker John Elkann would retain the same position at the new company. According to an unnamed source, the talks are "fluid" and other possibilities apart from an all-share merger might be considered along the way.

The report comes months after the merger talks between Fiat Chrysler and Renault failed, with FCA citing "political conditions in France" as the reason for not proceeding with the proposal, despite the fact that the potential combination of the two automakers had a blessing from the French government.

Breaking the News / GG