Bosses defend peugeot-opel deal under political fire – metro

FRANKFURT/PARIS (Reuters) – PSA Group and General Motors mobilized their chief executives on Wednesday to defend the Peugeot maker’s planned acquisition of GM’s European business Opel against a German-led backlash that could derail the deal even before its terms are finalised. Front porch ideas pinterest Fearing job losses, Germany’s federal government and powerful unions have heaped criticism on the tie-up plan, confirmed by both manufacturers on Tuesday. Football field template Britain also said it had contacted GM President Dan Ammann to express concern over the future of Opel’s UK plants. Basketball olympics 2016 roster Paris-based PSA said it would despatch CEO Carlos Tavares to meet German labor and political leaders likely to include Chancellor Angela Merkel, as his GM counterpart Mary Barra visited Opel headquarters near Frankfurt. Fantasy football rankings by position Tavares, expected to head the combined company if the deal goes through, “wants to meet Opel’s German stakeholders”, a PSA spokesman said, adding no date had yet been set for those talks. Landscaper salary The French carmaker had no further comment. El patio mexican restaurant PSA and GM have declined to say what cuts they would make to jobs, plants, production capacity or research and development under the deal being discussed. Elevator pitch for students Of GM Europe’s roughly 38,000 staff, about 19,000 are in Germany and 4,500 in Britain. Low maintenance landscaping ideas PSA shares fell almost 1 percent, reversing part of Tuesday’s 4.3 percent gain after some analysts cautioned that significant cost savings would be needed to offset the combined company’s dependence on Europe’s competitive, mature market. Baseball field layout GM shares were 1.5 percent lower at 1730 GMT. Play baseball games Key savings in production and research and development could prove elusive if the companies are forced to guarantee jobs and industrial sites to secure government and union acceptance. Famous softball players Critical questions include “how quickly PSA can achieve potential savings and reduce GM Europe’s cash burn”, he told clients in a note. College softball rankings “Restructuring of German and UK plants could turn out to be difficult given the political pressure involved.” German unions can veto strategic decisions under the country’s co-determination laws. What is pitch perfect rated After news of the secret deal talks broke, German Economy Minister Brigitte Zypries said it was “totally unacceptable” the companies had not included labor or local government representatives. Usssa softball texas Berlin somewhat tempered its stance on Wednesday. Pinch hitter The government has a “strong interest in a successful future” for Opel and will engage constructively with the discussions, a government spokesman said. Final score ncaa basketball championship Both companies are privately making the case that Opel would face sharper cuts under continued GM ownership than under PSA’s, sources close to the matter said. Fantasy baseball yahoo GM last week pledged “renewed actions” to restore European profitability. Pitch diameter gear Germany and France both hold elections later this year. Landscape photography tips for beginners The electoral hypersensitivity of job cuts is further heightened by Merkel’s precarious standing in opinion polls. Garden spider An adviser to one of the carmakers, who declined to be identified, told Reuters on Wednesday that important aspects of the tie-up were “very much in flux” and vulnerable to pressure. Www pitch Another person briefed on the talks said Tavares would pledge to “maintain Opel as a German company in full compliance with German labor law” when he meets government and union officials. Fantasy football mock draft 12 team ppr He will present the deal as “an alliance between a French carmaker and a German carmaker,” the source said. El patio France, which had initially welcomed a PSA-Opel deal providing French jobs were safeguarded, said on Wednesday it understood Berlin’s concerns. Ncaa baseball tournament scores The subject came up in conversation between Prime Minister Bernard Cazeneuve and Merkel, a German government spokesman said. Facebook login problems The tie-up would put Opel and PSA “in a position to improve their standing in the fast-changing European market”, the GM boss wrote, according to media reports later confirmed by staff. Cutter pitch The deal proposal emerged last year from regular talks between GM and PSA, according to two people with knowledge of the matter. Lattice degeneration The carmakers share three vehicle programs as a legacy of their last attempt to forge a deeper alliance. Sprinkler world springville utah That earlier effort foundered before PSA’s 2013-14 near-bankruptcy and bailout, in which the French state and China’s Dongfeng <0489.HK> took 14 percent stakes to match the Peugeot family’s diluted holding. Garden design pictures do yourself GM sold a 7 percent PSA stake ahead of the rescue. Backyard baseball But the joint development and production of SUVs and commercial vans at three different PSA and Opel plants has prepared engineering teams to do more, according to one of the sources with knowledge of the plan. 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