December 18, 2019 / 8:37 AM / a month ago

Fiat-PSA merger is good news for the car industry - France's finance minister

FILE PHOTO: The logo of PSA Peugeot Citroen is seen at the company's plant in Poissy, near Paris, October 31, 2019. REUTERS/Charles Platiau

PARIS (Reuters) - Fiat Chrysler (FCA) (FCHA.MI) and Peugeot maker PSA (PEUP.PA) merger is good news for France, Europe and also for the car industry, France’s Finance Minister Bruno Le Maire told Reuters on Wednesday.

Le Maire also said the French government would continue to ensure that conditions such as industrial footprint in France are met on PSA and FCA deal.

FCA and PSA had agreed on a binding merger in a $50 billion deal that will pave the way to the creation of the world’s fourth-largest car maker.

Reporting by Gwenaelle Barzic and Gilles Guillaume; Writing by Matthieu Protard

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