October 30, 2019 / 11:50 AM / 19 days ago

Italy's FCA, France's PSA could announce tie-up accord as soon as Thursday - source

MILAN, Oct 30 (Reuters) - Fiat Chrysler and PSA could announce a tie-up agreement as soon as Thursday, a source close to the situation said on Wednesday.

The two car makers confirmed earlier on Wednesday that they were in talks over a potential merger that could create a $50 billion giant better placed to tackle a host of costly technological and regulatory challenges facing the global auto industry.

A spokesman for Fiat Chrysler, which is scheduled to present its third-quarter results on Thursday, declined to comment. A PSA spokeswoman also declined to comment.

Reporting by Gianluca Semeraro and Giulio Piovaccari, writing by Giulio Piovaccari, editing by Silvia Aloisi

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