Deals
French Desire to Sell Peugeot Stake Stymied by Stock Tumble
- Peugeot's drop since May cuts stake value by 768 million euros
- `The state helped the company rebound magnificently': Gallois
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For the French state, the question is not whether it will sell its stake in PSA Peugeot Citroen, but when.
Nearly 24 months after France bailed out Peugeot jointly with China’s Dongfeng Motor Corp., the state is ready to dispose of its stake in the carmaker, a person familiar with the matter said. The company’s full-year results, slated to be released on Feb. 24, will provide a gauge for the state to determine the extent of the company’s turnaround and help it decide on a possible exit, the person said.