October 30, 2019 / 9:35 AM / 3 months ago

FCA-PSA tie-up must be 'merger of equals' with no job cuts - UILM trade union

FILE PHOTO: The logo of Fiat carmaker is seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard/File Photo

ROME (Reuters) - A possible tie-up between Fiat Chrysler (FCHA.MI) and Peugeot owner PSA (PEUP.PA) must be a “merger of equals” that leads to no job losses in Italy, Italian trade union UILM leader Rocco Palombella said on Wednesday.

FCA and PSA have confirmed talks over a potential tie-up that could create a $50 billion automotive giant better placed to tackle costly technological and regulatory challenges facing the industry.

Reporting by Francesca Piscioneri, editing by Valentina Za

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