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EU approves carmaker Opel takeover by France’s Peugeot PSA

Opel

French carmaker PSA Group (PEUP.PA) secured unconditional EU antitrust approval on Wednesday to acquire General Motors’ (GM.N) German unit Opel, a move which will help it better compete with market leader Volkswagen (VOWG_p.DE).

The European Commission said the deal did not pose any competition concerns.

PSA, the maker of Peugeot and Citroen cars, has pledged to return Opel and its British Vauxhall brand to profit.

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