22

Jan

Fiat denies Peugeot-Citroen merger plans

Posted by galardo  Published in Citroen, Fiat, Peugeot

Here’s one we didn’t expect: Hot off of plans to form an alliance with Chrysler, a rumor emerged late last night that Fiat was still considering raising up to 2 billion euros to fund a merger with PSA Peugeot-Citroen. An Italian newspaper reported that Fiat’s controlling shareholder, the Agnelli family, could vote because of an increase of capital to fund the merger.

Fiat spokesman Simone Migliarino denied the report, which had been published in La Repubblica without any sources.

A Peugeot spokesman declined to comment.

A merger with PSA Peugeot-Citroen would come as a true shock given Fiat’s announcement earlier this week that it plans to acquire 35 percent of Chrysler in exchange for giving the Detroit automaker access to small car platforms and powertrains.

    Print This Post

Source: www.leftlanenews.com