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Fiat, PSA face EU antitrust probe over $50-billion merger: sources

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Fiat, PSA face EU antitrust probe over $50-billion merger: sources GlobeBusiness

The companies had until Wednesday to put in concessions but did not do so, the sources said. That will automatically trigger a four-month-long investigation by the European Commission when it completes its preliminary review on June 17.The EU competition enforcer, Fiat Chrysler and PSA declined to comment.

“It is a huge and complicate deal, we know how things work and so we knew that a full probe was an option. Which by the way would not cause any delay to the time frame we face for the merger,” one of the sources said. Another source said if EU regulators have any concerns, they should list them. The companies expect to finalize the deal in the first quarter of 2021.

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