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Fiat Chrysler, Peugeot shares gain on report of tie-up

Fiat Chrysler, Peugeot shares gain on report of tie-up

Shares of Fiat Chrysler Automobiles NV and Peugeot SA jumped on March 19 following a media report that raised the prospect of a potential tie-up between the two automakers.

Robert Peugeot discussed a combination in an article published in French-language newspaper Les Echos. Robert Peugeot is chairman and CEO of FFP SA, a listed investment vehicle controlled by the Peugeot family that, according to S&P Global Market Intelligence, owns 9.4% of the French carmaker's shares. Robert Peugeot also is a member of Peugeot's board.

In late-afternoon trading in Italy, Fiat Chrysler's stock traded up 68 cents, or 5.3%, at €13.42, while in Paris, shares of Peugeot were up 56 cents, or 2.5%, at €22.84.

Fiat Chrysler and Peugeot did not immediately respond to emailed requests for comment from S&P Global Market Intelligence.