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FCA-PSA tie-up must be "merger of equals" with no job cuts - UILM trade union

FCA-PSA tie-up must be "merger of equals" with no job cuts - UILM trade union
FILE PHOTO: The logo of Fiat carmaker is seen in Nice, France, June 3, 2019. REUTERS/Eric Gaillard/File Photo -
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Eric Gaillard(Reuters)
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ROME (Reuters) – A possible tie-up between Fiat Chrysler <FCHA.MI> and Peugeot owner PSA <PEUP.PA> must be a “merger of equals” that leads to no job losses in Italy, Italian trade union UILM leader Rocco Palombella said on Wednesday.

FCA and PSA have confirmed talks over a potential tie-up that could create a $50 billion automotive giant better placed to tackle costly technological and regulatory challenges facing the industry.

(Reporting by Francesca Piscioneri, editing by Valentina Za)

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