LONDON/FRANKFURT/PARIS – French carmaker PSA Group expects its planned acquisition of General Motors' Opel division to lead to combined sales of 5 million vehicles by 2022 and save as much as 2 billion euros ($2.1 billion) annually, as the talks advance towards a likely deal in early March, sources told Reuters.
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PSA also plans to make swift progress on technical convergence with GM's European arm, bringing new Opel models such as the popular Corsa mini onto the Paris-based manufacturer's own vehicle architectures to slash duplication, two people with knowledge of the matter said on Wednesday.
Paris-based PSA and GM confirmed last week they were in talks over a PSA-Opel tie-up to create Europe's second-largest carmaker by sales after Volkswagen
(Reporting by Pamela Barbaglia, Arno Schuetze and Gilles Guillaume; Writing by Laurence Frost; Editing by Mark Potter)