EU Probe Into Fiat, Peugeot Deal Halted As Regulators Await Data
Highlights
EU antitrust regulators have suspended their investigation into Fiat Chrysler and Peugeot maker PSA's proposed merger while waiting for the carmakers to provide requested data.
"This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the European Commission said on Wednesday.
"Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly," the EU competition enforcer said.
PSA and FCA said their response to the EU's request for documentation was already in progress, but had been made more complicated to fulfil due to factors including the COVID-19 emergency.
It "will be transmitted shortly", the two groups said in joint statement.
The previous deadline for the EU's decision was Nov. 13.
FCA and PSA aim to finalise their merger in the first quarter of next year. It is set to create the world's fourth largest auto maker, to be named "Stellantis".
The Commission is investigating whether the deal to create the world's fourth-biggest carmaker would hurt competition in small vans in 14 EU countries and Britain.
Last Updated on July 23, 2020
Great Deals on Used Cars
View All Used Cars- 46,324 km
- Petrol
- AMT
- 39,823 km
- Petrol
- AMT
- 35,000 km
- Petrol+CNG
- Manual
- 29,065 km
- Diesel
- Manual
- 19,000 km
- Diesel
- Automatic
- 16,178 km
- Diesel
- Automatic
- 13,870 km
- Petrol
- Manual
- 19,798 km
- Petrol
- Manual
- 5,903 km
- Petrol
- Manual
- 25,279 km
- Diesel
- AMT
Upcoming Cars
Upcoming Bikes
Explore More
Latest News
Related Articles
Trending Vehicles In India
- Home
- News
- Auto Industry
- EU Probe Into Fiat, Peugeot Deal Halted As Regulators Await Data