EU investigation into Fiat, Peugeot deal halted as regulators await data

by SpeedLux
FCA Peugeot

EU antitrust regulators have suspended their investigation into Fiat Chrysler and Peugeot maker PSA’s proposed merger while waiting for the automakers to provide requested data.

“This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them,” the European Commission stated on Wednesday.

“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly,” the EU competition enforcer stated.

PSA and FCA said their reply to the EU’s request for documentation was already in progress but had been made more complicated to meet because of the factors including the COVID-19 emergency.

It “will be transmitted shortly”, the two automakers said in joint statement.

The earlier deadline for the EU’s decision was November 13.

FCA and PSA aim to finalize their merger in the first quarter of 2021. It is set to form the world’s fourth-largest automaker, to be named “Stellantis”.

The Commission is probing if the deal to create the world’s fourth-biggest automaker would hurt competition in small vans in 14 EU nations and the UK.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More