PARIS: Shares in Peugeot-carmaker PSA rose on Thursday, as analysts examined the possibility that Fiat Chrysler (FCA) might turn back to PSA after FCA withdraws a merger offer for Renault.
PSA shares were up 1.5% by 7:40am, in sharp contrast to Renault whose shares slumped 6.6% while FCA’s shares also fell in Milan.
French state bank BPIfrance has a 12.2% stake in PSA’s share capital. “Both parties have acknowledged the need for scale or M&A and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume,” wrote brokerage Jefferies.