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German regulator okays GM and PSA joint purchasing

FRANKFURT | Fri Oct 26, 2012 5:17am EDT

FRANKFURT Oct 26 (Reuters) - Germany's Federal Cartel Office approved on Friday plans by General Motors and French rival PSA Peugeot Citroen to bundle their purchasing budgets to save costs.

"This does not lead to a dominant market position of General Motors and Peugeot," said Andreas Mundt, president of the cartel office, in a statement on Friday.
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