French Government Discusses Peugeot Stake Option After Writedown
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France’s budget minister floated the possibility of buying a stake in PSA Peugeot Citroen after the ailing automaker announced second-half writedowns of 4.13 billion euros ($5.53 billion) amid Europe’s plunging auto sales.
“Let’s be clear: this company cannot, must not disappear,” Jerome Cahuzac said on RMC radio today. “We’ll have to do what we have to do to save this company.” A representative for Prime Minister Jean-Marc Ayrault responded that buying a holding is not currently on the agenda.