PSA in talks to buy Opel from GM, company confirms

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  • A Peugeot car is pictured at the Opel plant in Bochum October 22, 2012. Opel's U.S. parent company General Motors will post third-quarter results on October 31.  REUTERS/Ina Fassbender/File Photo

    A Peugeot car is pictured at the Opel plant in Bochum October 22, 2012. Opel's U.S. parent company General Motors will post third-quarter results on October 31. REUTERS/Ina Fassbender/File Photo (Copyright Reuters 2017)

  • The logo of German General Motors daughter Opel and the bank of French car maker Peugeot are seen at a Opel and Peugeot dealership in Leverkusen near Cologne October 22, 2012.    REUTERS/Wolfgang Rattay/File Photo

    The logo of German General Motors daughter Opel and the bank of French car maker Peugeot are seen at a Opel and Peugeot dealership in Leverkusen near Cologne October 22, 2012. REUTERS/Wolfgang Rattay/File Photo (Copyright Reuters 2017)

PSA Group is discussing a potential acquisition of rival European carmaker Opel from General Motors, a spokesman for the French manufacturer said on Tuesday.

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"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.

Sources earlier told Reuters that GM and PSA, owner of brands including Peugeot, were in advanced discussions to combine the Paris-based carmaker with Opel.

(Reporting by Laurence Frost)