A spokesman for Dongfeng Motor has reportedly told a Chinese newspaper that the state-controlled firm has no comment to make over rumours of it buying into PSA Peugeot Citroën.
The China-based portal Gasgoo.com, which names Beijing Youth Daily as the source of its report, says Dongfeng may buy as much as 30 percent of PSA. According to an official response by an unnamed representative from Dongfeng, the company has “has no comment… on the rumour.”
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
PSA has manufacturing joint ventures in China with both Dongfeng and Changan, the latter having just opened a new plant which now builds the Citroën DS5. Gasgoo says when asked about the possibility of buying into PSA, Changan stated that it has “no plans to purchase PSA stock at this time”.
The latest speculation follows other rumours which recently claimed that members of the Peugeot family had been in negotiations with General Motors to sell a strategic stake in the troubled company.
Author: Glenn Brooks
