EU challenges French-backed Peugeot rescue -report

Newswire

PARIS, Dec 20 (Reuters) - The European Union is challenging the terms of a French government-backed debt rescue for carmaker PSA Peugeot Citroen's financing arm, Les Echos reported. In a letter to the French government, EU Competition Commissioner Joaquin Almunia said the state-orchestrated refinancing of Banque PSA Finance constituted state aid, the French daily said in a preview of its Friday edition. Peugeot had no immediate comment, a company spokesman ...

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