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On the afternoon of January 4, the shareholders’ meeting of FCA, the automobile group that owns Fiat and Chrysler, voted in favor of the merger with PSA – which controls Peugeot, Citroën and Opel – with 99.15 percent of the votes. In the morning, the PSA assembly also voted in favor. With the merger, now official, the Stellantis holding will be born, which will be the fourth automotive group in the world after Volkswagen, Toyota and the group formed by Renault, Nissan and Mitsubishi.
Last June, the European Commission opened an investigation into the merger, fearing it could reduce competition in the market for light commercial vehicles (vans) in 14 EU member states and the UK.
However, at the end of December the Commission approved the merger of the groups that, in response to the Commission’s concerns, offered some solutions to promote competition: the extension of a cooperation agreement, currently in force between PSA and Toyota, which it will allow Toyota to compete effectively with the new merged company, and a modification of the existing “repair and maintenance” agreements for passenger cars and light commercial vehicles between PSA, FCA and their repair networks, which will facilitate the access of competitors to those same networks.
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