TURIN — PSA Group and Fiat Chrysler Automobiles will continue to operate as competitors until their planned $50 billion merger gets approval by the various antitrust authorities around the world, a process that could take more than a year.
Nine PSA and FCA working groups have been meeting regularly since late October on a binding memorandum of understanding that could be signed in coming weeks, possibly before Dec. 25.
In two separate communications sent to employees through internal channels and seen by Automotive News Europe, the two companies told employees that members of the work groups are continuing to pursue the goals of their respective companies. “FCA and PSA will remain competitors until the merger process is completed,” the internal memos said.
