Brussels announces that it will render its decision by February 2 on the proposed merger between PSA Peugeot Citroën and Fiat Chrysler Automobiles (FCA). But this is only a deadline: Oddo BHF expects a verdict by the end of 2021, "most likely in November".
The European Union definitely wants to give itself time to appreciate all the impacts of the marriage project between PSA Peugeot Citroën and Fiat Chrysler Automobiles (FCA) on the competition front … It has just set a deadline of February 2 to deliver a verdict, while the two auto giants have recently made concessions to obtain the endorsement by the European Commission. While PSA and FCA are still aiming for a finalization of the merger by the end of the first quarter of 2021, for Oddo BHF, this February 2 deadline appears to be a theoretical maximum date. The Franco-German financial group analyst is still anticipating a decision by the end of the year, most likely in November.
The concerns of Brussels had justified on June 17 the opening of an in-depth investigation into the proposed merger, announced at the end of 2019, which should give rise to the world's fourth largest automotive group by volume and the third by turnover, housing under the same roof of iconic brands like Peugeot, Citroën, Opel, Jeep, Alfa Romeo and Maserati. This project has already obtained the green light from 14 competition authorities around the world, out of 21 necessary, a spokesperson told AFP. The two manufacturers unveiled on Tuesday the names of the 11 members of the board of directors of the new group baptized Stellantis, from their marriage.
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