General Motors in Talks with French Rival Peugeot Over German and British Units
GM is looking at options for its Opel and Vauxhaull units
French auto-maker Peugeot's (PEUGF) shares rose sharply in Paris on Tuesday on news that General Motors (GM) - Get Report is in advanced talks with its French rival over its European brands Opel and Vauxhall.
The shares rose to a high of €19.17 ($20.38) before falling back slightly and was recently trading at €18.81, up 4.94% on Monday's close. GM's share was also up 5% in pre-market trading at $37.80.
In a statement released in early afternoon in Paris, Peugeot's parent group PSA Peugeot Citroen said it is exploring possibilities that may include buying the German car-maker, although it added there is no certainty that the two sides will reach an agreement.
