Deals
Fiat-Peugeot Talks Signal Growing Pressure on Car Industry
- Deal would create auto powerhouse with $49 billion market cap
- Discussions follow collapse of Fiat talks with Renault in June
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Fiat Chrysler Automobiles NV’s talks to combine with French carmaker PSA Group point to intensifying pressure on global carmakers to join forces in squeezing costs and tackling the expensive shift to electric cars.
Fiat and Peugeot maker PSA confirmed Wednesday they’re holding discussions aimed at creating one of the world’s leading auto groups. PSA shares rose the most in just over a year, while Fiat jumped as much as 11%.