Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Fiat Chrysler does not see delay in PSA merger, FIOM union says

Published 03/31/2020, 04:17 PM
Updated 03/31/2020, 04:20 PM
© Reuters. FILE PHOTO: A Fiat Chrysler Automobiles sign at the U.S. headquarters in Auburn Hills, Michigan

© Reuters. FILE PHOTO: A Fiat Chrysler Automobiles sign at the U.S. headquarters in Auburn Hills, Michigan

MILAN (Reuters) - Fiat Chrysler (MI:FCHA) did not mention any possible delay in the merger process with France's PSA (PA:PEUP) during a call with unions on Tuesday, metal workers' union FIOM said.

"No delay on the merger with PSA was mentioned to us," FIOM representative Michele De Palma told Reuters, correcting an earlier FIOM statement which said a delay was "certain" given the current situation.

Union representatives held a conference call on Tuesday with FCA's Chief Operating Officer for Europe, Middle East and Africa Pietro Gorlier to discuss the coronavirus emergency.

De Palma confirmed, however, that FCA said during the meeting that its industrial plan would suffer a delay.

Last week FCA's controlling shareholder Exor (MI:EXOR) said it expected the merger with PSA would be completed early next year, as initially planned.

© Reuters. FILE PHOTO: A Fiat Chrysler Automobiles sign at the U.S. headquarters in Auburn Hills, Michigan

FCA was not available for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.