|
"With them, as with others, the planets could be aligned,"
Robert Peugeot was reported as saying, asked about targets for
acquisitions or mergers.
Fiat Chrysler (FCA) declined to comment.
Shares in the Italian-American carmaker were up 5.2 percent by
1050 GMT, while Peugeot gained 2.7 percent, helping boost
Europe's autos index which was up 2.5 percent.
Peugeot's remarks came on the heels of reports the group's CEO
Carlos Tavares is open to deals and that Fiat, General Motors,
and Jaguar Land Rover could be ideal partners.
FCA's new boss Mike Manley, who took over after deal-making guru
Sergio Marchionne died last year, said this month the carmaker
was open to pursuing alliances and merger opportunities if they
make sense and strengthen its future.
FCA is often cited as a possible merger candidate because of its
strong exposure to the North American market, where it generates
the lion's share of profits, and because of its popular Jeep,
RAM and Maserati brands.
"PSA is essentially an EU pure play as things stand (roughly 90
percent of consolidated unit sales in EU) so an acquisition of a
company with a broader reach would make strategic sense," said
Evercore ISI analyst Arndt Ellinghorst.
Investors and analysts alike were wary of betting on an imminent
deal, though, mindful of potential antitrust obstacles.
"Although we believe that some M&A could materialize in the
automotive sector, we do not expect it in the short term," said
Mediobanca Securities analyst Andrea Balloni.
(Reporting by Helen Reid, Danilo Masoni, Agnieszka Flak; Editing
by Keith Weir)
[© 2019 Thomson Reuters. All rights
reserved.] Copyright 2019 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
