Mitsubishi and PSA abandon their merger plans
Finally could not be. The negotiations launched by PSA Peugeot Citroen and Mitsubishi Motors to merge have ended without agreement, according to a very short statement issued by both companies, because they were not given the “appropriate circumstances”. Philippe Varin, CEO of PSA, confirmed at the Geneva motor show that an alliance with the Japanese group could not be considered realistic given the economic conditions of both parties.
Although nothing is official, the Nikkei financial newspaper published some time that PSA was to acquire between 30 and 50 percent of Mitsubishi for a maximum of 300,000 million yen, from 2.438 million euros at the exchange.
That the relationship between PSA and Mitsubishi has not become in marriage does not mean however that will break your friendship. Both companies have confirmed that they will continue “growing together”, implying safely launching new models or common platforms are emphasized. So far we have almost certain that the French have their own version of the Mitsubishi ASX, and there are rumors of a new small model. Will there be new surprises?
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