PSA Peugeot board approves merger with Fiat Chrysler: source

[WASHINGTON] The board of Peugeot maker Groupe PSA on Wednesday approved a merger with Italian-US carmaker Fiat Chrysler, creating a new global auto giant, a person familiar with the deal said Wednesday.

A union between PSA, which also makes the Citroen and Opel brands, and FCA must still be approved by FCA's board. The board of the merged company would have 11 members, six from PSA and five from FCA, the person said.

AFP