Talk Irvine

General => Economy & Finance => Topic started by: Cam on December 03, 2009, 03:04:00 AM

Title: Peugeot May Take Control Of Mitsubishi
Post by: Cam on December 03, 2009, 03:04:00 AM
PARIS ? French carmaker PSA Peugeot Citroen said Thursday it is in talks with Mitsubishi Motors Corp. that could lead to a "strategic partnership."  In a statement, France's biggest automaker said it "confirms that it has started discussions with Mitsubishi Motors ... concerning the possibility of extending their relationship which could lead to a strategic partnership."

The statement did not go as far as a report in Japan's Nikkei business daily which said that Peugeot Citroen will buy a 30 to 50 percent stake in Japan's No. 4 automaker for up to 300 billion yen ($3.4 billion, euro2.25 billion).

The report sent shares in Mitsubishi soaring. They closed up 13.4 percent at 135 yen in Tokyo after earlier soaring nearly 20 percent. On Wednesday, Peugeot Citroen shares closed up 1.3 percent at euro24.59. (
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