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Opel to remain independent firm in possible PSA deal - Manager Magazin

By Reuters

Published: 04:19 EST, 17 February 2017 | Updated: 04:19 EST, 17 February 2017

FRANKFURT, Feb 17 (Reuters) - General Motors Chief Executive Mary Barra made assurances at Opel's headquarters in Germany that the carmaker is to remain an independent company in any deal with France's PSA Group, German monthly Manager Magazin reported, citing sources close to negotiations between GM and PSA.

It also said that, according to Barra, PSA chief Carlos Tavares planned to leave Opel's management, including CEO Karl-Thomas Neumann, in office following a possible acquisition.

GM and PSA said on Tuesday they were in talks that could result in PSA buying GM's European auto operations, a move that could shake up the global auto industry. (Reporting by Maria Sheahan; Editing by Balazs Koranyi)

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Larry Whyte
Larry Whyte

He is a leading authority on business trends including ‘big data’, self-employment and the social media revolution. He’s the author of the award-winning book, Marketing Shortcuts for the Self-Employed (2011, Wiley) and a regular speaker for Bloomberg TV. He has spoken about global mega trends, big data and the social media revolution at conferences and business events around the world .

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