Amaya is currently the best Indian in LondonStrong increase since October 23 the price of USo Air France left only good memories in PragueTo take only one example include the case of Esther Duflo2 billion after an increase of 6 last yearSince 2008 franchisees sit on the Board of DirectorsIt is it is decided you want to be your own bossIn wanting to lift more than EUR 15 million EUR 17Today the group key first tangible dividendsBut 40000 euros or more for a comprehensive studyMore than thirty years after the creation of the first joint venture between PSA and Fiat, will see the French accept the idea of a great marriage with its Italian partner The hypothesis of the merger of PSA and Fiat motor activities, launched Friday by the Italian daily "Il Sole 24" ore, referring to a project matured by the Bank of business Mediobanca, under the name of code "Eiffel", instead left marble groups concerned. In the years 1993-1994, already, such an idea was circulated, without seeing any materialization. Yet, the current crisis grows all car groups to review their strategy, and a possible strengthening of the partnership between PSA and Fiat is not to exclude.
On the side of Fiat, it refuses to confirm the hypothesis of such an alliance, at least at this stage. The Turin Group indicated Friday that he "did not submit to the consideration of the Board of Directors of operation of merger with other companies in the automotive sector". This does not preclude review "any opportunity to agreements of various forms to obtain productive synergies and access new markets." As early as the month of December, but Fiat boss Sergio Marchionne, found that only a handful of generalist manufacturers survive the crisis and that Fiat will not have its place in the last four without marrying a competitor... all observers had identified as PSA. On the other hand, the Italian group does not have short term of State support to the French groups, making it more nervous on his next cash difficulties.
But in the ranks of the constructor, the speech is much more lukewarm. "Today the urgency, it is crisis management", repeats for weeks at the headquarters of the group, where comments are "on not rumours". The reflections of the shareholders bear more on a strengthening of partnerships and alliances, add several sources. A French-Italian merger scenario is not considered credible today for several reasons. First of all, the Peugeot family, which owns 30 of the capital but 45 of the voting rights, would any applicant. "I the do not accept losing control of the group." "This crisis, it is cross as she in crossed, thinking that there will be victims and of market share to win on that occasion", indicates in the entourage of Christian Streiff, the President of the Executive Board.
Then, in the current context, a transalpine marriage would have major consequences on employment, because of the many duplicates between the two groups in the relatively nearby profile. "Contrary to the new alliance Fiat-Chrysler, Fiat-PSA fusion would be much more oriented on on cost reductions of growth", says automotive consultant, who believes nevertheless that "the sector needs today something like that". But at the time where PSA has recently received over $ 3 billion of loans from the State, in exchange for the promise not to close plant in France, and limit departures, you see bad governments blessing such a scenario. Finally, before considering concentrations, each expected first to know the fate of Opel, which "weighs" still 7 of the European market.
