Shares of Fiat Chrysler were down more than 1% after the call, while PSA's stock was up about 1.5% on the European stock exchange in Paris.
During the call, Tavares and Fiat Chrysler CEO Mike Manley stressed that the merger is occurring at the right time, as both companies report strong profits despite"With this merger, we're actually going to execute what has only been theorized many times before, which is smart industry consolidation," Manley said.
"We will have the size to provide cutting-edge technology," Tavares said, and later adding that the new company will "challenge the status quo in terms of what is now ongoing in the worldwide automotive industry."Daniel Roland | AFP | Getty Images Shares of the merged company, which will be based in the Netherlands, will be listed on the Euronext Paris, Borsa Italiana and New York Stock Exchange, according to the companies.at roughly 14%. Exor is the family investment company of Fiat Chrysler chairman John Elkann, whose great-great-grandfather founded Italian automaker Fiat.
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