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NewsROYAL FM BROADCAST NEWS

Peugeot to buy General Motors

written by Samuel Etuk March 6, 2017
Peugeot to buy General Motors

The French company that owns Peugeot and Citroen,PSA Group has struck a deal to buy General Motors’ European unit, including Vauxhall.

PSA Group and GM announced the sale ahead of a press conference in Paris.

The deal has raised fears of job losses at Vauxhall’s UK factories, which has 4,500 workers.

With GM’s Opel and Vauxhall operations, PSA would become Europe’s second largest carmaker, behind Volkswagen but overtaking Renault-Nissan.

Since the two firms announced they were in talks on 14 February, they have met ministers and union officials to address concerns about potential job cuts.

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Samuel Etuk

Passionate unapologetic Nigerian, highly spontaneous, web content writer cum social media strategist, gidi hustler and Akwa-ibomite in diaspora

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