Fiat Chrysler and Peugeot confirm talks over potential $50 billion tie-up

Milan-listed shares of Fiat Chrysler opened up more than 10% on Wednesday, while Peugeot shares rose more than 6% after the auto makers confirmed they are in talks over a tie-up For more business news, follow ReutersBiz

“We view the combination of these two companies as reasonable given global competition, high capital intensity, and industry disruption from electrified powertrain as well as autonomous technologies,” Hilgert said.Investors have speculated for several years that Fiat Chrysler - itself the product of an Italian-U.S. merger - was hunting for a further partner, encouraged by the rhetoric of the company’s late chief executive Sergio Marchionne.

Paris has a 12% stake in PSA through state bank BPI, while the Peugeot family and the Chinese government each have a similar holding.

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