PSA in talks to buy Opel from GM, company confirms

MarketsReuters

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)