Peugeot shares tumble as GM offloads stake
PARIS Dec 13 (Reuters) - Shares in PSA Peugeot Citroen fell 7.8 percent on Friday for a 20 percent four-day drop after General Motors sold its 7 percent stake in the struggling French carmaker in a private placement to institutional investors.
Peugeot shares already lost 7.6 percent on Thursday after the group announced a writedown and confirmed it was mulling a capital increase.
Asked on Friday if the state would take part in the capital increase, French Industry Minister Arnaud Montebourg told RMC radio: "I cannot answer your question. Will the question arise? Without doubt. But for now, let the companies discuss between themselves."
He added: "The red line is that PSA will remain French. That is our position."
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