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Fiat Chrysler and PSA Group have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger or make other adjustments.
Sources say the European automakers are still planning on merging, but are talking to banks and looking for potential government support due to the meltdown of auto demand amid the pandemic.
Fiat and PSA are expected to hold back on dividend payouts as part of their cash-savings strategies, including a potential adjustment to the €5.5B special dividend Fiat is set to pay out in advance of the merger. RTRS
Sources say the European automakers are still planning on merging, but are talking to banks and looking for potential government support due to the meltdown of auto demand amid the pandemic.
Fiat and PSA are expected to hold back on dividend payouts as part of their cash-savings strategies, including a potential adjustment to the €5.5B special dividend Fiat is set to pay out in advance of the merger. RTRS