PSA Group seemingly open to deals after report
The Peugeot maker declined to comment on the report by a British news agency that it was in advanced talks with Tata
London/Paris — PSA said on Thursday it was ready to consider potential tie-ups, after the French car maker's shares briefly rose on a report that it was in advanced talks with Tata Motors to acquire UK-based Jaguar Land Rover. The Peugeot maker declined to comment on a report by British news agency The Press Association that a deal was imminent. Tata denied the report, which cited sources referring to an internal "post-sale integration document" describing cost savings. "As a matter of policy, we do not comment on media speculation, but we can confirm there is no truth to these rumours," said a spokesperson for the Indian carmaker, which owns 100% of JLR. PSA shares jumped after publication of the PA report, before falling back after Tata released its statement, and were down 2.85% as of 2.31pm GMT. "On principle we are open to opportunities that could create long-term value for PSA Group and its shareholders," said Alain Le Gouguec, a spokesperson for the Paris-based manufacturer. ...
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