The PSA group (Peugeot and Citroen) is negotiating with General Motors in view of a possible acquisition of Opel, the European branch of the American company. The operation aims at the merger between the two houses. The news was released by AFP, which quotes a spokesman for the French car manufacturer as confirmation of some rumors.
PSA is "evaluating the possibility of acquiring Opel", said the spokesman, recalling that the two companies are already linked by common industrial projects for the production of SUVs and minivans. On the Paris Stock Exchange, the PSA share is gaining 5%, to 18,8 euros.
UPDATE:
General Motors and the PSA Peugeot Group “examine opportunities for growth and cooperation on a regular basis. The PSA Group confirms that it is discussing with General Motors several strategic initiatives aimed at improving profitability and operational effectiveness, including the potential acquisition of Opel/Vauxhall”. This is what Psa Peugeot specifies in a note, adding that "at the present stage there is no certainty of the conclusion of a possible agreement".
Since 2012, the note recalls, "General Motors and the PSA Group have defined an alliance which, to date, concerns three projects in Europe and which generates substantial synergies for both Groups".
