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BRUSSELS (Reuters) – EU antitrust regulators suspended their investigation into the proposed merger through Fiat Chrysler and car manufacturer Peugeot PSA pending data requested by automakers.
“This merger investigation procedure is activated if the parties do not provide, at the appropriate time, the data that the Commission has requested from them,” the European Commission said Wednesday.
“Once the missing data is through the parties, the stopwatch is reset and the Commission’s resolution era is adjusted accordingly,” said the EU festival leader.
PSA and FCA stated that their reaction to the EU’s request for documentation is already underway, but that it had become more confusing due to points such as the COVID-19 emergency.
“It will be broadcast soon,” the two teams said in a joint statement.
The last deadline for the EU resolution is 13 November.
FCA and PSA aim to complete their merger in the first quarter of next year. He’s about to create the fourth largest manufacturer in the world, called “Stellantis.”
The Commission is investigating that the agreement to create the world’s fourth largest car manufacturer would undermine the festival of small vans in 14 EU countries and Britain.
(Report through Foo Yun Chee; Additional report through Gilles Guillaume in Paris and Giulio Piovaccari in Milan; Editing through Mark Potter and Jan Harvey)