PSA Peugeot-Citroën, Mitsubishi in Strategic Partnership Talks

PSA Peugeot-Citroën and Mitsubishi Motors have confirmed that they are in talks over a possible strategic partnership. This follows a report in Japan’s Nikkei newspaper that suggested that PSA could take a stake of between 30% and 50% in Mitsubishi, amounting to around 300 billion yen (US$3.44 billion), in a private placement of new shares. The report added that the management team at Mitsubishi was ready to accept a majority acquisition by PSA if the conditions were right. (December 3, 2009)