PSA and FCA stated their response to the EU’s request for documentation was already in progress, however had been made extra sophisticated to fulfil as a consequence of components together with the COVID-19 emergency.
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FCA and PSA goal to finalise their merger within the first quarter of subsequent yr
EU antitrust regulators have suspended their investigation into Fiat Chrysler and Peugeot maker PSA’s proposed merger whereas ready for the carmakers to offer requested information.
“This process in merger investigations is activated if the events fail to offer, in a well timed style, an vital piece of data that the Fee has requested from them,” the European Fee stated on Wednesday.
“As soon as the lacking info is equipped by the events, the clock is re-started and the deadline for the Fee’s choice is then adjusted accordingly,” the EU competitors enforcer stated.
PSA and FCA stated their response to the EU’s request for documentation was already in progress, however had been made extra sophisticated to fulfil as a consequence of components together with the COVID-19 emergency.
It “might be transmitted shortly”, the 2 teams stated in joint assertion.
The earlier deadline for the EU’s choice was Nov. 13.
FCA and PSA goal to finalise their merger within the first quarter of subsequent yr. It’s set to create the world’s fourth largest auto maker, to be named “Stellantis”.
The Fee is investigating whether or not the deal to create the world’s fourth-biggest carmaker would harm competitors in small vans in 14 EU international locations and Britain.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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