MILAN: Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen.
Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann.FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros without plant closures, and investors will be keen for more details on how it will do this.
"He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said.
Worst name ever
Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles