FINANCIAL TIMES: General Motors and PSA Peugeot Citroën are poised to announce an alliance that will see the US carmaker take a 7 per cent stake in its French counterpart and involve the companies building products and buying supplies together, two people briefed on the talks said on Tuesday.
PSA is planning a rights issue that would in part allow GM to enter its share capital, but would also provide the struggling French carmaker with extra funding, including cash for new projects launched by the partnership.
GM and PSA have been talking for several months about teaming up to develop and build engines, transmissions and vehicles, and to combine their purchasing power… (more)
