Business World News of Fri, 17 Feb 20170

Opel to remain independent firm in possible PSA deal

Opel Logo The logo of German car manufacturer Opel is pictured at the company's headquarters

General Motors (GM.N) Chief Executive Mary Barra made assurances at Opel's headquarters in Germany that the carmaker is to remain an independent company in any deal with France's PSA Group (PEUP.PA), German monthly Manager Magazin reported, citing sources close to negotiations between GM and PSA.

It also said that, according to Barra, PSA chief Carlos Tavares planned to leave Opel's management, including CEO Karl-Thomas Neumann, in office following a possible acquisition.

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GM and PSA said on Tuesday they were in talks that could result in PSA buying GM's European auto operations, a move that could shake up the global auto industry.

Source: reuters.com

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