Fiat and Peugeot will form the world’s fourth-biggest car manufacturer. Reuters
Fiat and Peugeot will form the world’s fourth-biggest car manufacturer. Reuters
Fiat and Peugeot will form the world’s fourth-biggest car manufacturer. Reuters
Fiat and Peugeot will form the world’s fourth-biggest car manufacturer. Reuters

Peugeot and Fiat prepare merger agreement for next week


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Fiat Chrysler Automobiles and Peugeot maker PSA Group are aiming to sign a formal agreement next week to combine and form the world’s fourth-biggest car manufacturer, according to people familiar with the matter.

Progress is being made on the memorandum of understanding even though some outstanding issues still have to be resolved, said the people who asked not to be named because the information isn’t public.

Ways to assess potential Fiat liabilities that have come to light since a broad outline of the accord was unveiled on October 31 are still under discussion, they said, adding that more than 100 managers are participating.

PSA has planned a board meeting on Tuesday to consider the deal, one person said.

Representatives for Fiat and PSA declined to comment. The companies had said they aimed to sign an accord before the end of the year.

Following the unveiling of the merger plan, rival General Motors hit Fiat with a blockbuster racketeering lawsuit alleging a bribery and corruption scheme. Fiat has called the accusations meritless.

JPMorgan analysts have estimated GM is likely to seek at least $6 billion (Dh22.04bn) in damages, with the extreme scenario being as much as $15bn.

In a separate development, Italian tax authorities claimed Fiat underestimated the value of its American business by $5.7bn following its phased acquisition several years ago. Fiat has said it strongly disagrees with the finding.

A merger of Fiat and PSA would create a regional powerhouse to challenge Volkswagen.

Under the plan, the new company based in the Netherlands would be headed by PSA chief executive Carlos Tavares, while Fiat chairman John Elkann would keep his role as chairman.

The combination would leave Mr Tavares, who turned around PSA and the loss-making Opel brand acquired from GM, to figure out how to improve Fiat’s struggling operations in Europe.

The Sky Is Pink

Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

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match info

Maratha Arabians 138-2

C Lynn 91*, A Lyth 20, B Laughlin 1-15

Team Abu Dhabi 114-3

L Wright 40*, L Malinga 0-13, M McClenaghan 1-17

Maratha Arabians won by 24 runs

Breast cancer in men: the facts

1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.

2) Symptoms can include a lump, discharge, swollen glands or a rash. 

3) People with a history of cancer in the family can be more susceptible. 

4) Treatments include surgery and chemotherapy but early diagnosis is the key. 

5) Anyone concerned is urged to contact their doctor

 

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

How to donate

Text the following numbers:

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FIXTURES

Fixtures for Round 15 (all times UAE)

Friday
Inter Milan v AS Roma (11.45pm)
Saturday
Atalanta v Verona (6pm)
Udinese v Napoli (9pm)
Lazio v Juventus (11.45pm)
Sunday
Lecce v Genoa (3.30pm)
Sassuolo v Cagliari (6pm)
SPAL v Brescia (6pm)
Torino v Fiorentina (6pm)
Sampdoria v Parma (9pm)
Bologna v AC Milan (11.45pm)

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Teams

India (playing XI): Virat Kohli (c), Ajinkya Rahane, Rohit Sharma, Mayank Agarwal, Cheteshwar Pujara, Hanuma Vihari, Ravichandran Ashwin, Ravindra Jadeja, Wriddhiman Saha (wk), Ishant Sharma, Mohammed Shami

South Africa (squad): Faf du Plessis (c), Temba Bavuma, Theunis de Bruyn, Quinton de Kock, Dean Elgar, Zubayr Hamza, Keshav Maharaj, Aiden Markram, Senuran Muthusamy, Lungi Ngidi, Anrich Nortje, Vernon Philander, Dane Piedt, Kagiso Rabada, Rudi Second

Mountain%20Boy
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Indika
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LUKA CHUPPI

Director: Laxman Utekar

Producer: Maddock Films, Jio Cinema

Cast: Kartik Aaryan, Kriti Sanon​​​​​​​, Pankaj Tripathi, Vinay Pathak, Aparshakti Khurana

Rating: 3/5

Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars

The Bio

Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride

She is the eldest of 11 children, and has four brothers and six sisters.

Her dream is to meet with all of her friends online from around the world who supported her work throughout the years

Her favourite meal is pizza and stuffed vine leaves

She ams to improve her English and learn Japanese, which many animated programmes originate in

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SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
6 UNDERGROUND

Director: Michael Bay

Stars: Ryan Reynolds, Adria Arjona, Dave Franco

2.5 / 5 stars