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PSA Opel deal would benefit both companies - GM CEO
February 15, 2017 / 4:43 PM / 10 months ago

PSA Opel deal would benefit both companies - GM CEO

FRANKFURT, Feb 15 (Reuters) - General Motors Chief Executive Mary Barra on Wednesday told employees that combining GM’s European Opel and Vauxhall business with Peugeot would be beneficial for both companies.

“While there can be no assurance of any agreement, any possible transaction would enable PSA Groupe and Opel Vauxhall to leverage their complementary strengths, enhancing their competitive positions for the future in a rapidly changing European market,” Barra said in message to staff, according to extracts of the message seen by Reuters.

Barra urged employees not to let speculation about Opel’s fate distract the carmaker from carrying out its business.

Barra concluded by saying that no additional information could be provided at this point, “because we are simply not at that point in our discussions.” (Reporting by Edward Taylor. Editing by Jane Merriman)

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