EU probe into Fiat, Peugoet deal halted as regulators await data

The European 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.
By : Reuters
| Updated on: 22 Jul 2020, 06:07 PM
File photo
File photo
File photo
File photo

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.

(Also read: Fiat, PSA pick 'Stellantis' as name for merged company)

"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.

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The previous deadline for the EU's decision was Nov. 13.

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.

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First Published Date: 22 Jul 2020, 06:07 PM IST
TAGS: Fiat PSA Peugeot
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