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Fiat Chrysler, Peugeot's parent company PSA reportedly agree on merger terms: WSJ Updated: 2019-10-31 07:10:59 KST

Peugeot maker PSA Group of France and Italian-American firm Fiat Chrysler Automobiles have reportedly reached a massive merger agreement.
That's according to the Wall Street Journal which reported Wednesday, citing inside sources, that the board of PSA Group has approved the deal.
The deal between the two automobile groups would create a business with a combined market value of nearly 50 billion U.S. dollars.
The two groups sell a combined nine million automobiles annually, ranking fourth in the world following Volkswagen, Toyota and the Renault-Nissan Alliance.
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