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Money News

Fiat Chrysler chairman says 'great opportunities' from Peugeot tie up

FILE PHOTO: John Elkann, attends a ceremony to inaugurate a school dedicated to former Fiat CEO Sergio Marchionne in Amatrice, Italy, November 6, 2019. REUTERS/Jennifer Lorenzini

TURIN, Italy (Reuters) - Italian carmaker Fiat Chrysler FCHA.MI will be able to "seize great opportunities" from a merger with Peugeot owner PSA PEUP.PA, its chairman John Elkann said on Friday.

The two automakers are planning to join forces in a 50-50 share merger to create the world’s fourth-largest automaker.

Answering a question on the merger being already a done deal, Elkann said a long time can pass between the announcement of a merger and getting it over the line.

Reporting by Elisa Anzolin, writing by Stephen Jewkes

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