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Peugeot denies Faurecia exit

PSA Peugeot Citroen has denied it is to sell its 72 per cent stake in car-parts manufacturer Faurecia – rumours which had bumped up the latter's share price.

Peugeot Citroen chief executive Jean-Martin Folz has already emphasised that the company intends to retain control over part company but at a recent Peugeot shareholders meeting indicated that the carmaker was looking to reduce its stake.

. Regarding the jump in Faurecia's share price, a company spokesman said: "Other than our dividend announcement, a positive outlook for operating-margin improvement and a harsh market valuation, I don't see any objective explanation to the rise in shares."

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