The shares of the well known French carmaker Peugeot (Part of PSA Peugeot Citroën) have dropped dramatically as the market closed for the weekend. The well known brand finished the week a ridiculous 12% down, after the US monopoly, General Motors sold its 7% in the company. While GM confirmed that their relations with Peugeot were still strong, Peugeot resorted to the option of having a EUR 1.1 billion write-down. The carmaker is trying to get their foreign operations once more under control, and talks with the Chinese, Dongfeng group are continuing. Due to these talks, many questions have arisen.
"The red line is that PSA will remain French. That is our position," said the French Industry Minster, Arnaud Montebourg. '
General Motors purchased their share in the company last year in February, immediately making them the second largest stakeholders in the company, after the Peugeot family themselves.
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| http://finance.yahoo.com/q/bc?s=UG.PA+Basic+Chart&t=5d |
The Peugeot shares fell dramatically, 12% over the week in France.
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| http://finance.yahoo.com/q/bc?s=UG.PA+Basic+Chart&t=5d |
Source(s):
http://www.bbc.co.uk/news/business-25362490
http://en.wikipedia.org/wiki/Peugeot
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