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PSA in talks to buy Opel/Vauxhall - reports

PSA GM logos

The PSA Group is reported to be in talks to buy Vauxhall and Opel from GM.

Reuters is citing sources that say the merger could be announced within days.

“PSA confirms that it is exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel," company spokesman Bertrand Blaise said.

Bloomberg says today, again using insider insight: “PSA is considering the takeover to boost its scale, get access to Opel’s engineering, electric car technology and reap savings from joint purchasing and eventually cost cuts.

"For GM it would mark a clean exit from Europe, especially after the UK vote to leave the EU” put pressure on the pound and GM's operations in the country.

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