PSA intends to keep Opel as a German brand, reports say
February 16, 2017
PSA Group CEO Carlos Tavares intends to keep Opel as a German company if the French automaker acquires the money-losing brand from General Motors, reports said.
Tavares also is open to maintaining Opel's current management structure if the deal goes ahead, the reports said, citing people familiar with Tavares's thinking.
PSA and GM on Wednesday embarked on a charm offensive to win German support for a sale of Opel to PSA amid concerns that a combination would lead to job losses and a massive overhaul of the brand.
CONTINUE AT LINK ABOVEGM is making the case that selling Opel to PSA would position the brand to grow and provide better long-term job security than the status quo, Bloomberg reported. Both GM and PSA are saying in private discussions that Opel would face sharper cuts under continued GM ownership than under PSA's, sources said.