Peugeot Aims to Sign Fiat Merger Deal This Year, Reuters Reports

(Bloomberg) -- Peugeot SA plans to sign its $50 billion merger deal with Fiat Chrysler Automobiles this year despite allegations that a former Fiat chief executive officer was implicated in bribery, Reuters reported, citing an unidentified person with direct knowledge of the matter.

Talks between Peugeot-manufacturer PSA and Fiat are concentrated on the merger and a memorandum of understanding is scheduled to be signed in December, according to the report.

Fiat Chairman John Elkann has rejected allegations by General Motors that late CEO Sergio Marchionne played a role in a years-long corruption scheme that’s already landed car executives and labor leaders in jail.

To contact the reporter on this story: Jihye Lee in Seoul at jlee2352@bloomberg.net

To contact the editors responsible for this story: Niluksi Koswanage at nkoswanage@bloomberg.net, Stanley James, Siraj Datoo

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