Opel Disputes Possibility of Sale to PSA

OpelOpelGermany, 1863 > present85 models
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disputes a report in the French newspaper Le Monde indicating that PSA PeugeotPeugeotFrance, 1882 > present120 models
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-CitroënCitroënFrance, 1919 > present94 models
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may buy GM'sGMUnited States of America, 1998 > present8 models
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European subsidiary.

This is not the first time that these rumors have happened. Before PSA took a government bailout loan, GM had been negotiating with it to sell Opel and create a new joint venture in which GM would have been a minority shareholder. 

However, Opel disputes the claims and calls them "pure speculation."

The point of the joint venture is to create an automaker capable of challenging VolkswagenVolkswagenGermany, 1938 > present98 models
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in the European marketplace. It would allow them to pool factories, development and logistics.

Perhaps in the new year, GM will find a way to offload Opel to PSA like it tried to most of last year. 

Source: Automotive News Europe