EU exec to scrutinise French auto aid plan

BRUSSELS (Reuters) - The European Commission said on Monday it would look very carefully at the details of France's plan to help car makers PSA Peugeot-Citroen (PEUP.PA) and Renault (RENA.PA), to make sure it conforms with EU rules.

"The Commission will need to scrutinise very carefully details of the subsidies, the conditions attached to make sure of their compliance with state aid and single market rules," Commission competition spokesman Jonathan Todd said.

The French plan unveiled earlier on Monday would see the French government loaning the carmakers 3 billion euros (2.6 billion pounds) each over 5 years at 6 percent interest in return for a pledge not to close sites during the duration of the loan.

(Reporting by Foo Yun Chee; editing by Pete Harrison)