Peugeot shareholders approve mega-merger with Fiat

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It is one of the last steps towards creating the world's fourth largest automaker

owner PSA on Monday gave the green light to the French company's merger with Fiat Chrysler , one of the last steps towards creating the world's fourth largest automaker.

"We are ready for this merger," PSA chief executive Carlos Tavares said, adding that the date for the closure of the deal would be announced shortly if all shareholder approvals were granted. He said the deal had passed all regulatory tests.

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