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GM, Peugeot in talks to boost alliance
- France: Sunday, October 14 - 2012 at 02:37
French carmaker Peugeot Citroen and General Motors are in talks to explore ways to combine European operations in a second phase of the carmaking alliance they forged to save costs earlier this year, Reuters has reported, citing unnamed sources. The two companies have discussed combinations including a joint venture between GM's Opel division and Peugeot's core manufacturing arm, said three people with knowledge of the matter. GM paid €320m for a 7% stake in Peugeot as part of the original alliance deal, though the value of that stake has plunged along with the French automaker's shares. GM said in August it may have to write down the value of its investment.
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