Fiat Chrysler confirms talks with France's PSA over potential tie-up

FILE PHOTO: The logo of FIAT carmaker is seen on a vehicle in Cairo, Egypt, May 19, 2019. Picture taken May 19, 2019. REUTERS/Mohamed Abd El Ghany/File Photo

Mohamed Abd El Ghany | Reuters

Italian-American automaker Fiat Chrysler confirmed on Wednesday it was holding talks with French rival PSA for a potential tie-up aimed at creating one of the world's leading groups in the automotive industry.

The two automakers are in talks to combine, in a deal that could create a $50 billion player, a source familiar with the matter said on Tuesday.

FCA said in a statement it had nothing more to add this time.

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