FRANKFURT, Feb 17 (Reuters) - A takeover of Opel, General Motors’ European arm, by France’s PSA Group would make sense from an industrial point of view, the Bild am Sonntag paper reported, citing comments by Opel CEO Karl-Thomas Neumann in a letter to employees.
“This is a chance to forge a European champion and start a new and successful chapter in our history after having been part of GM for 88 years,” Neumann was quoted as saying in the letter.
Talks on a sale of GM’s European arm to PSA were confirmed by both companies on Feb. 14.
“All parties involved understand the industrial logic behind the planned transaction: this would create the second-largest European carmaker - with a market share of nearly 17 percent,” Neumann was quoted as saying.
He also said talks on Wednesday with GM CEO Marry Barra and Opel supervisory board Chairman Dan Ammann had been “very constructive”, adding the works council and union IG Metall would be closely involved in the detailed assessment of the potential deal. (Reporting by Christoph Steitz; Editing by Michael Shields)