Fiat, PSA to win EU approval for US$38 billion merger, sources say

BRUSSELS/MILAN: Fiat Chrysler and PSA are set to win EU approval for their US$38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive to meet the industry's dual challenges of funding cleaner vehicles and the global pandemic.

The Commission and France's PSA did not immediately respond to requests for comment. Italian-American group Fiat Chrysler Automoobiles declined to comment. Following feedback from rivals and customers, the carmakers only had to tweak the wording of their concessions, with no changes in the substance, the people said.FCA and PSA have said they hope to complete the merger in the first quarter of 2021.Advertisement

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