November 21, 2019 / 2:10 PM / 22 days ago

Fiat Chrysler chairman sees Peugeot deal finalised by year-end

TURIN, Italy, Nov 21 (Reuters) - Fiat Chrysler Chairman John Elkann said on Thursday he was confident the group would finalise its tie-up with Peugeot owner PSA this year and dismissed concerns about a lawsuit launched by rival General Motors.

“Judging from how both the FCA and PSA teams are working, I’m confident in saying that a binding memorandum will be signed by the end of the year,” he told reporters in Turin.

He said the group was not worried by a lawsuit from General Motors, accusing Fiat Chrysler of bribing United Auto Workers (UAW) union officials over many years to corrupt the bargaining process, saying the allegations were baseless. (Reporting by Giulio Piovaccari, writing by James Mackenzie, editing by Valentina Za)

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