Peugeot results likely to give clues as to when French state will shed its stake
Paris — For the French state, the question is not whether it will sell its stake in PSA Peugeot Citroen, but when.Nearly 24 months after France bailed out Peugeot jointly with China’s Dongfeng Motor, the state was ready to dispose of its stake in the car maker, a person familiar with the matter said.The company’s full-year results, scheduled to be released on February 24, would provide a gauge for the state to determine the extent of the company’s turnaround and help it decide on a possible exit, the person said.While the state will pocket a profit of about €600m if it sells the stake now, it may have missed an opportunity to make a great deal more by not selling the shares in May last year, when the stock hit an almost four-year high. Since then, the industry emissions scandal and tumbling global markets have pulled down vehicle stocks. Peugeot shares have sunk 35% since May 27."The timing to sell Peugeot shares is plain negative," said Saxo Bank trader Andrea Tueni. "Selling at th...
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