BRUSSELS (Reuters) - French President Francois Hollande said on Friday that it was up to PSA Peugeot Citroen (PEUP.PA) shareholders and executives to set out plans for the company’s future, and only then could the state offer its view.
“First, it’s up to the shareholders and Peugeot’s managers to comment,” Hollande told journalists after an EU summit in Brussels. “I leave it up to the shareholders and the managers to make a statement. Then the state can make a statement.”
Reuters reported on Thursday that the company’s founding family has offered to give up control of the troubled French automaker as it tries to revive plans for a closer tie-up with General Motors (GM.N), backed by a fresh capital injection.
Reporting by Emmanuel Jarry; Writing by Leigh Thomas; Editing by Mark Trevelyan