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EU probe into Fiat, Peugoet deal halted as regulators await data

imageStock Markets2 hours ago (Jul 22, 2020 05:35AM ET)

(C) Reuters. FILE PHOTO: The logos of car manufacturers Fiat and Peugeot are seen in front of dealerships of the companies in Saint-Nazaire

BRUSSELS (Reuters) – EU antitrust regulators have suspended their investigation into Fiat Chrysler (MI:FCHA) and Peugeot (OTC:PUGOY) maker PSA’s (PA:PEUP) proposed merger while waiting for the carmakers to provide requested data.

“This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them,” the European Commission said on Wednesday.

“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly,” the EU competition enforcer said.

The previous deadline for the EU’s decision was Nov. 13.

The Commission is investigating whether the deal to create the world’s fourth-biggest carmaker would hurt competition in small vans in 14 EU countries and Britain.

EU probe into Fiat, Peugoet deal halted as regulators await data

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