France's PSA could buy GM's Opel/Vauxhall

"The company carries responsibility for the sites, the development center and the securing of employment", German Economy Minister Brigitte Zypries, a Social Democrat, said in an e-mailed statement to Bloomberg on Tuesday.

If concluded successfully, the talks could lead to a merger of German-based Opel with PSA, the sources said.

GM is reportedly seeking a multi-billion dollar amount for Opel.

PSA Group's proposal to buy General Motors Co.'s Opel brand quickly ran into a potential hurdle in Germany, with politicians and labor leaders vowing to protect jobs and the unit's manufacturing footprint in the country.

Bertrand Blaise, executive VP for corporate communications at Group PSA, is quoted by the news agency as saying, 'We are in discussions with Opel to expand upon our existing projects, ' but declined to comment further.

Stock Price of General Motors Company (GM) Decreases -3.19%
General Motors Company's dividend payout ratio (DPR) is presently 25.33%. "Harel Insurance Investments & Financial Services Ltd". In other news, President Daniel Ammann sold 10,000 shares of the business's stock in a transaction dated Friday, December 9th.

"The Government remains in close contact with GM as we closely monitor the situation".

PSA's shares also liked the news.

A combination between the two would have around 16% of the European vehicle market, and would take PSA (pugoy) above its French rival Renault (rnsdf).

In 2016 Opel Vauxhall had a western Europe market share of 6.6%, while Peugeot, Citroen and its DS upmarket subsidiary had just over 10 per cent, according to Automotive Industry Data. One scenario already raised by General Motors sources in discussions with Autocar is the possibility of a sweeping consolidation of Vauxhall operations in the United Kingdom, with the brand name resigned to history and being replaced by Opel - a move that was seriously considered by General Motors following the financial crisis of 2009 but ultimately decided against. However, a devaluation of the British pound and cooling sales in the United Kingdom following the Brexit vote is claimed to have resulted in an added $300 million of unexpected currency losses in 2016, leading to an operating loss at Opel of $257 million previous year.

Peugeot - which also controls the Citroen marque - is part-owned by the French government, which holds a 14pc stake after a state bail-out deal.

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