When the stock markets close in Europe today, PSA Peugeot Citroen and GM should announce that they are going ahead with the plan of GM buying seven percent of PSA. That according to “sources with knowledge of the discussions” that talked to Reuters.
GM and Peugeot will pool R&D, vehicle platforms and technologies, Reuter’s sources say. PSA hopes to save $2 billion in 4 years through the deal. What GM is hoping is anybody’s guess.
In the morning, The Detroit News reported that Sergio Marchionne also would not mind taking a stake in PSA. Depending on how that announcement is coming along, all Sergio can do is stand and watch while GM and PSA are doing the alliance.
PS: After the close of the market, the deal was announced.